Washington, D.C. (September 19, 2017) Congressman Steve Pearce released the following statement after the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) awarded a total of $3,780,521 to a number of New Mexico institutions under the FY2017 Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program).

"New Mexico is made up of many rural and native communities with individuals, families, and small businesses who rely on access to affordable financial services and products. Small businesses are the cornerstone of the nation's economy. Today's award will better assist financial institutions in serving and supporting economic development throughout our local communities," stated Rep. Pearce. "New Mexico's economy must continue to diversify to strengthen and grow. I will continue working with federal agencies and local governments to give small businesses every opportunity to start and grow."

The U.S. Department of the Treasury's CDFI Fund awarded 303 Community Development Financial Institutions $208.7 million in awards. These funds will help fund economic development efforts of rural, urban, and native communities. Under the CDFI Program, ACCION received $1,006,905, First Financial Credit Union received $596,500, and Ventana Fund received $580,405. Under the NACA Program, Cha Piyeh received $149,878, Native Partnership for Housing received $781,333, and Tiwa Lending Services received $665,500.