DCUC Joins Forces with CUNA and NAFCU in NDAA Campaign
Friday, June 12, 2020
The Senate posted a NDAA summary that includes the following citation:
“The NDAA includes numerous other provisions to ensure we recruit and retain the best and to support military installations, including:
· Requiring DOD policies for government depository institutions and credit unions operating on military installations to be applied equally to all such institution.”
DCUC does not expect to see actual bill language until next week. However, it is important to note the bank trades are using exactly the same strategy as last year.
In response, all three trades (CUNA, NAFCU and DCUC) sent a Joint Letter to the House Armed Services Committee in response to the Senate action. The House Armed Services Committee begins its mark up later on this month.
We encourage DCUC member credit unions and the leagues to write to your Representative and Senators. Once we have actual bill language, DCUC will draft a sample letter for your use. However, if wish to contact your Congressional delegation now that would be most appreciated.
It is important to counter this proposed language since it does not benefit military members and further enriches the bank shareholders. Banks should not be treated as not-for-profit institutions unless they act like not-for-profit institutions and return any savings to military members and their communities—just like credit unions.
DCUC is very proud to have both CUNA and NAFCU on our flank as we advocate for our members and the larger credit union industry.