The Defense Credit Union Council, (DCUC), sent a letter to the U.S. House and Senate ahead of the lame-duck session, emphasizing critical legislative priorities for the nation’s nearly 200 defense credit unions and the 40 million members they serve, particularly active-duty military, veterans, and their families.
 
In the letter, DCUC Chief Advocacy Officer Jason Stverak calls on Congress to address several pressing issues impacting credit unions serving these important communities. Stverak called attention to the following priorities:

​The Consumer Financial Protection Bureau recently finalized its 1033 rule, mandating that financial institutions provide consumers with greater access to their financial data, and allow them to share that data with third-party financial technology companies.
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While the rule is presented as a victory for consumer empowerment and financial innovation, it comes with a set of profound risks — particularly for credit unions, and more critically, for those serving the military community.

​WASHINGTON, D.C. – On October 29, 2024, the Defense Credit Union Council, DCUC, sent a letter to Congresswoman Claudia Tenney (NY-24) in response to comments made during the recent American Bankers Association (ABA) conference. In the letter, Jason Stverak, DCUC Chief Advocacy Officer, expresses DCUC’s appreciation for Congresswoman Tenney's willingness to discuss credit unions' tax-exempt status and regulatory framework, including Community Reinvestment Act (CRA) requirements.

Credit unions stayed out of the conversation at the first Senate hearing on next year’s widely anticipated tax reform
legislation, but friends and skeptics alike are telling DCUC that the credit union tax exemption is almost certain to be one of the issues examined on Capitol Hill in 2025.

Credit unions play a vital role in the financial ecosystem, providing millions of consumers with affordable financial services while fostering a sense of community ownership. However, the growing trend of over-regulation poses significant risks to their sustainability and future growth.

DCUC is growing! In fact, we are pleased to announce the addition of two new member credit unions and are excited to help them serve their military and veteran communities. Beyond welcoming new members, there are many more innovations we are eager to deploy designed to make us even more responsive and accessible to our entire membership.