WASHINGTON, D.C. – Yesterday morning, the Defense Credit Union Council (DCUC) sent a letter to U.S. Treasury Secretary Scott Bessent stating its strong support for the Community Development Financial Institutions (CDFI) Fund and urging for clarity on its future.

DCUC appreciates the Treasury’s recognition of CDFIs’ vital role and its commitment to stakeholder engagement. However, with Treasury’s recommendations on the CDFI Fund expected to have been submitted to the White House by March 21, per the March 14 Executive Order, DCUC is seeking an update on the status of the process.

Today, the Defense Credit Union Council (DCUC), alongside nine financial trade organizations, has reaffirmed its strong opposition to the Credit Card Competition Act (Durbin-Marshall bill) or any expansion of the Durbin amendment.

The coalition, including DCUC, the American Bankers Association, America’s Credit Unions, the Association of Military Banks of America, Bank Policy Institute, Consumer Bankers Association, Independent Community Bankers of America, Electronic Payments Coalition, Mid-Size Bank Coalition of America, and National Bankers Association sent a letter stressing “any legislative initiatives to expand the power of the federal government to intervene in the U.S. credit card market” poses harm to consumers, small businesses, and financial institutions by reducing choices, increasing costs, and raising fraud risks.

“The Credit Card Competition Act is a misnomer—it does nothing to enhance competition and everything to consolidate power in the hands of the largest retailers at the expense of consumers, small businesses, and community financial institutions,” says Anthony Hernandez, DCUC President/CEO. “If Congress enacts this legislation, consumers will lose rewards programs they depend on, small businesses will face greater financial strain, and community banks and credit unions will struggle to provide essential services. This is a solution in search of a problem—one that will only create new ones.

​This week, DCUC pressed into its mission, championing the voice of defense credit unions to both the Treasury Department and Congress, successfully responding to the March 14 Executive Order scaling back the CDFI Program.

WASHINGTON, D.C. – The Defense Credit Union Council (DCUC) proudly welcomes Members 1st Federal Credit Union (Members 1st FCU) as its newest active member.

Members 1st FCU is a member-owned, not-for-profit financial cooperative headquartered in Enola, Pennsylvania. “Our members entrust us with their livelihoods, and that is a responsibility we carry with honor. For seven decades now, we've been a pillar of our community and one of the most respected financial institutions in the area. We've grown a lot since our early days, but our commitment to serving and empowering our members will never change.” Learn more about Member 1st FCU here!

​WASHINGTON, DC – The Defense Credit Union Council (DCUC) and Earnest Consulting Group (ECG) are pleased to announce a new strategic partnership focused on building even more capacity in serving the interests of credit unions serving military and veteran communities. This collaboration represents another significant milestone in DCUC’s mission to provide unparalleled support to defense credit unions and the communities they serve.

WASHINGTON, D.C. – Early this morning, the Defense Credit Union Council, DCUC, urged bipartisan congressional support for the Community Development Financial Institutions (CDFI) program, a critical resource for underserved communities.
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For over 30 years, the CDFI program has empowered mission-driven lenders—including credit unions and community banks—to provide affordable financial services in areas overlooked by mainstream finance. Nearly 500 credit unions hold CDFI certification, offering vital services to low-income neighborhoods and military families.

WASHINGTON, D.C. – The Defense Credit Union Council (DCUC) proudly welcomes Nutmeg State Financial Credit Union as its newest affiliate member.
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Nutmeg State Financial Credit Union (NSFCU) is a member-owned, not-for-profit financial cooperative headquartered in Rocky Hill, Connecticut. Embracing its roots as a steward of the financial cooperative movement, Nutmeg State Financial Credit Union is a values-driven collective committed to intentional actions and investments to “be the change” in their community.

​Last month I looked at the Trump Administration’s changes to the Consumer Financial Protection Bureau (CFPB). That controversial agency was expected to be in the middle of the maelstrom that has hit Washington in the first months of Donald Trump’s second term; what may not have been expected is the even broader alterations to the financial regulatory landscape—including NCUA—being contemplated by the President and the Republican Congress.

​A Legacy of Safeguarding Credit Unions
The stability of modern credit unions stems from dedicated oversight. The National Credit Union Administration (NCUA), established in 1970, charters and supervises federal credit unions while managing the National Credit Union Share Insurance Fund. Before this, credit unions lacked federal insurance, exposing members to risks.