A new Credit Builders Alliance (CBA) member survey reveals troubling consequences of recent federal funding cuts to financial capability programs. Among the 127 nonprofit respondents across 36 states and DC:“This survey shows the debilitating impact federal funding cuts are already having on organizations that serve as the last line of defense for financially vulnerable Americans,” said Dara Duguay, CEO of Credit Builders Alliance. “Without an immediate infusion of federal funding, many of these vital nonprofits that protect Americans and help strengthen our economy, will not survive. We must be allocating money, not taking it away.”
- 40% have already lost funding
- 36% have reduced staff
- 26% have eliminated programs entirely
These cuts are dismantling critical services for the nation’s most vulnerable populations—including refugee resettlement, affordable housing counseling, green lending, small business development, and financial coaching.