Bill to strengthen military banking could weaken defense CUs (CU Journal, July 20, 2018)
Monday, July 23, 2018
Credit union advocacy groups are concerned about a provision in the House version of the 2019 National Defense Authorization Act that excludes credit unions from a change in land lease considerations offered to them on military bases. This sweeping change is only offered to banks after stripping credit unions from the initial proposal.
The Credit Union National Association said it thinks this provision would be a “detriment” to credit unions that serve members of the armed forces, while granting banks easier access to the same bases.
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The National Association of Federally-Insured Credit Unions, which has been working closely with Defense Credit Union Council, has also expressed its concerns over the provision.