​In the midst of looming uncertainty over a potential government shutdown, the role of credit unions as pillars of financial stability, gains even more significance. As not-for-profits, credit unions have consistently proven themselves to be the safest option for safeguarding the financial security of their members.

​WASHINGTON–Credit unions that operate branches on military bases overseas are not saluting the news that Navy Federal Credit Union has won a Department of Defense contract to operate The Community Bank, which has 60 branches and 275 ATMs on military bases in Europe and in the Pacific.

DCUC recently announced Jack Fallis, President, PNW & International Markets Global CU, as the new DCUC Board Chairman. Fallis has served on DCUC’s Board of Directors since 2017, most recently as 1st Vice Chair. Fallis officially  assumed the role of Chairman after a “DCUC first-ever” passing of the gavel ceremony held during DCUC’s Annual Conference and Hall of Honor gala on Thursday, August 10.

Several critical issues are on the clock, and DCUC is on top of all of them. Here’s a grab bag of what we’re watching
closely:

​NAFCU, CUNA, and the Defense Credit Union Council (DCUC) Tuesday urged the Senate to oppose the effort by Sen. Josh Hawley, R-Mo., to attach his Capping Credit Card Interest Rates Act (S. 2760) as an amendment to a proposed “minibus” appropriations bill.

​CUNA, NAFCU, and the Defense Credit Union Council (DCUC) urged Senate leaders to oppose an amendment to the “minibus” appropriations bill that would cap credit card annual percentage rates at 18%. The organizations note it would make credit more expensive and less available.

​The “Credit Card Competition Act,” S. 1838, as introduced by Senators Dick Durbin and Roger Marshall, represents another financial hazard masked by seemingly good intentions of the retail lobby. Unfortunately, the proposed legislation does nothing to reduce additional costs for consumers and harms working-class Americans. All it really does is secure another round of windfall profits for big box retailers and e-commerce giants. This is unfair and should alarm everyone reading this article.

​We all know that change is the only “constant” successful organizations anticipate, plan for, and manage as time marches on. When change occurs or is necessary, the choice is simple: adapt or wither away. How many  department  stores, communication devices, and video arcades are no longer part of our culture?

​WASHINGTON, DC— Today, 11 trade associations representing virtually all banks and credit unions, including those primarily serving military-affiliated customers and members, released the following joint statement opposing the effort by Senators Dick Durbin (D-IL) and Roger Marshall (R-KS) to attach their proposed credit card routing legislation (S. 1838) to the Military Construction, Veterans Affairs, and Related Agencies Appropriations Act (H.R. 4366):