Today, the Defense Credit Union Council (DCUC) requested a meeting with members of the House Ways and Means Committee to discuss the critical importance of maintaining credit unions' federal tax-exempt status.

​In a letter sent to every committee member's office, DCUC Chief Advocacy Officer Jason Stverak reaffirms how this exemption is not a special privilege but a recognition of credit unions' not-for-profit, member-owned structure. Credit unions, including those serving military and underserved communities both stateside and overseas, have provided significant economic benefits to these populations for close to a decade.

The Defense Credit Union Council (DCUC) sent a letter to the House Financial Services Committee (HFSC) ahead of the committee hearing titled “Make Community Banking Great Again.” In the letter, Jason Stverak, DCUC Chief Advocacy Officer, spoke of the critical role credit unions play in fostering financial stability, consumer choice, and access to affordable financial services.

​Stverak shared how credit unions operate under a not-for-profit, member-owned model that reinvests earnings into local communities. Military families, middle-class Americans, and underserved populations, in particular, benefit from the accessibility and financial advantages that credit unions provide. Notably, more than 70% of credit union branches are located in lowand moderate-income communities, filling critical gaps left by larger banks that have increasingly shuttered branches in rural and economically disadvantaged areas.

Noted political pundit (and sometime Academy Awards winning actress) Bette Davis once commented, “Fasten your seatbelts, it’s going to be a bumpy night.” That’s an apt way to describe the environment in Washington as we begin 2025.

To be sure, there are opportunities—and challenges ahead for the incoming Trump Administration and Republican congressional majorities. There is a widespread sense that the momentum Republicans may have gained from their somewhat surprising sweep in November 2024 has a definite shelf life, and that there is a need to act quickly if they want to accomplish their lower tax, less regulation agenda.

​WASHINGTON, D.C. – Yesterday, the Defense Credit Union Council (DCUC) called on the Senate Armed Services Committee (SASC) to address critical financial concerns impacting service members, veterans, and their families during Mr. Daniel P. Driscoll’s confirmation hearing for Secretary of the Army.

​In a letter sent to the SASC leaders Roger Wicker (R-MS), Chairman, and Jack Reed (D-RI), Ranking Member, DCUC Chief Advocacy Officer highlighted the vital role of defense credit unions in supporting military financial readiness—which aligns with the Department of Defense’s mission to enhance troop resilience. DCUC’s letter outlined key issues the association believes require immediate attention, including:

​WASHINGTON, D.C. – Today, the Defense Credit Union Council (DCUC) sent a letter to the Senate Banking, Housing, and Urban Affairs Committee, urging Chair Tim Scott (R-SC) and Ranking Member Elizabeth Warren (D-MA) to recognize the important role credit unions have in safeguarding financial access. DCUC’s letter comes ahead of the Committee's hearing, “Investigating the Real Impacts of Debanking in America.”

Since its founding, DCUC has been the trusted voice for credit unions serving military and veteran communities. With a legacy rooted in advocacy and collaboration, DCUC continues to empower credit unions to provide tailored financial services for those who have dedicated themselves to defending our nation. In 2024, DCUC upheld its mission with notable successes in advancing policies that protect and champion credit unions and their members.

WASHINGTON, D.C. – Today, the Defense Credit Union Council (DCUC) wrote to leaders of the Senate Special Committee on Aging ahead of tomorrow’s hearing, “Making Washington Work for Seniors: Fighting to End Inflation and Achieve Fiscal Sanity.”
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In the letter, DCUC Chief Advocacy Officer Jason Stverak highlighted defense credit unions’ dedication to serving senior members, including military retirees, veterans, and their families. Stverak listed the diverse programs, products, and resources credit unions provide to this important population.

DCUC continues its mission to advocate for and support the financial readiness of our nation’s service members and their families. With the passage of the recent National Defense Authorization Act (NDAA), junior enlisted service members are set to receive a significant 15% pay raise by April 2025.

This increase in discretionary income will undoubtedly benefit service members and the communities surrounding military installations. However, we must remain vigilant. With greater financial flexibility comes greater risks of financial exploitation. Unscrupulous actors off base may see this as an opportunity to take advantage of young service members, enticing them to spend this new income on unnecessary or overpriced goods such as expensive electronics, cars, or high-interest financing schemes.

As we charge into 2025, the industry faces significant challenges on Capitol Hill and within the executive branch. For months DCUC has warned of the mounting threats to our industry, including calls to dismantle our tax exemption, impose Community Reinvestment Act (CRA) requirements on federal credit unions, and a wave of regulatory overreach targeting overdraft protection, interest rate caps, and third-party vendor oversight. Add to this the Credit Card Competition Act (CCCA) and it becomes crystal clear: our industry needs a bold trade association that fiercely advocates for its members while maintaining its credibility on Capitol Hill.