Our Position
DCUC supports the Military Banking Program Improvement Act either as standalone legislation or as part of the Fiscal Year 2025 National Defense Authorization Act.
Background
The banking program problems DoD has suffered over the past several years are rooted in its lack of knowledge about banking practices, processes, and technologies. To address DoD’s current shortcomings in these areas and to keep it on a sustainable path to promote financial well-being in our Armed Forces, this legislation proposes the creation of an advisory committee.
The committee should include senior DoD officials representing the many and currently disconnected mission areas that impact military banking (financial management, real property management, and financial readiness), federal financial regulators whose jobs include ensuring the financial industry works for all Americans, including the military, and the two non-profit organizations that have represented military banks and defense credit unions for over 60 years — DCUC and AMBA. DCUC and AMBA are far more effective when working together than on our own.
This legislation assigns the Advisory Committee functions and authorities broad enough to allow it to study and recommend all aspects of the DoD Military Banking Program. It also establishes a requirement for a baseline study that will serve as both a way to identify and correct the Program’s current problems and a way to chart a course that leverages current and future financial industry technologies for the benefit of military bank and defense credit union customers.
Resources
DCUC supports the Military Banking Program Improvement Act either as standalone legislation or as part of the Fiscal Year 2025 National Defense Authorization Act.
Background
The banking program problems DoD has suffered over the past several years are rooted in its lack of knowledge about banking practices, processes, and technologies. To address DoD’s current shortcomings in these areas and to keep it on a sustainable path to promote financial well-being in our Armed Forces, this legislation proposes the creation of an advisory committee.
The committee should include senior DoD officials representing the many and currently disconnected mission areas that impact military banking (financial management, real property management, and financial readiness), federal financial regulators whose jobs include ensuring the financial industry works for all Americans, including the military, and the two non-profit organizations that have represented military banks and defense credit unions for over 60 years — DCUC and AMBA. DCUC and AMBA are far more effective when working together than on our own.
This legislation assigns the Advisory Committee functions and authorities broad enough to allow it to study and recommend all aspects of the DoD Military Banking Program. It also establishes a requirement for a baseline study that will serve as both a way to identify and correct the Program’s current problems and a way to chart a course that leverages current and future financial industry technologies for the benefit of military bank and defense credit union customers.
Resources
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Oppose Interchange Amendments FY2026 NDAAKey talking points on NDAA and proposed interchange amendments.
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