WASHINGTON, D.C. – The Defense Credit Union Council (DCUC) leadership met with the Department of Defense (DoD) Deputy Chief Financial Officer earlier today to reinforce its critical role and historic partnership with DoD decision-makers. DCUC advocates for enhanced financial services for military and veteran communities as part of its mission. Recognizing the challenges caused by disrupted communication channels during the COVID-19 pandemic, DCUC aims to solidify and strengthen its longstanding relationship with the DoD, while ensuring informed policy decisions that benefit service members and their families.

​WASHINGTON, D.C. – The Defense Credit Union Council (DCUC) is pleased to see the introduction of two critical pieces of credit union legislation introduced Thursday by House Financial Services Ranking Member Maxine Waters (D-CA). The Central Liquidity Facility (CLF) Enhancement Act (H.R. 10510) and Expanding Financial Access for Underserved Communities Act (H.R. 10510), represent significant steps toward enhancing the resilience and accessibility of credit unions to better serve communities, including those in military and underserved populations.

​WASHINGTON, D.C. – The Defense Credit Union Council (DCUC) applauds Congressman French Hill, Chair-elect of the House Financial Services Committee, for introducing the “Military Financial Services Protection Act of 2024.”

“Our service members and their families deserve and have earned the best services we can provide them. I am proud to lead the Military Financial Services Protection Act so that the Department of Defense fully understands the intersection of financial services and defense,” said Congressman Hill. “Supporting our brave men and women in uniform and their families is of the utmost importance to me, and that starts with ensuring they have peace of mind in their financial security.” 

​WASHINGTON, D.C. – The Defense Credit Union Council (DCUC) commends the U.S. Senate for passing a clean version of the “Servicemember Quality of Life Improvement and National Defense Authorization Act for Fiscal Year 2025” (NDAA). DCUC is especially pleased to see that the legislation does not include the Durbin-Marshall Credit Card Competition Act (CCCA) amendment or any interchange language or related study proposals that could give rise to similar regulations.

​WASHINGTON, D.C. – On Friday, December 13, 2024, the Defense Credit Union Council (DCUC) sent a letter extending its congratulations to Representative French Hill on his selection as Chairman of the House Financial Services Committee. In the letter, DCUC Chief Advocacy Officer Jason Stverak emphasized the critical role Hill’s leadership will play in shaping policies that bolster the financial system and protect consumers.

Over the last few years, no federal regulator, not even NCUA, has been the topic of conversation among credit union leaders more than the Consumer Financial Protection Bureau (CFPB). Now that President Trump is likely to replace Biden appointed regulators at virtually every financial regulator, including NCUA, CFPB, and FHFA (which regulates Fannie, Freddie, and the FHLB System), talk has turned to what’s next at that controversial consumer-focused agency.

The credit union movement is at a pivotal juncture. Threats to our tax-exempt status, proposals to extend the Community Reinvestment Act (CRA) to credit unions, and challenges to the independence of our regulatory framework strike at the core of our mission. These are not mere policy debates; they are existential threats that could undermine our capacity to serve military members, veterans, and the broader communities that rely on us.

​It has been a whirlwind of a year, or more like an F5 Tornado. It all began following our 60th Annual Conference in Colorado Springs, built momentum throughout the fall of 2023, and reached peak intensity after last year’s American Association of Credit Union Leagues (AACUL) winter meeting. While the full story remains for another time, it’s been a period of immense growth and resilience.

​WASHINGTON—Banking and credit union trade groups are speaking out against the CFPB’s final overdraft rule, which caps overdraft program fees at $5 and applies to financial institutions, including credit unions, above $10 billion in assets.