DCUC President/CEO Anthony Hernandez pictured with Representative Chris Croft, Kansas House Majority Leader; Michael Augustine, President/CEO at Frontier Community CU; and Michael Murray, Executive Director at Kansas Credit Union Association. Photo provided by DCUC
OVERLAND PARK, KS – The Defense Credit Union Council (DCUC) successfully concluded its 2023 Midwest Sub-Council Conference held October 3-5. This year’s conference, co-hosted by Frontier Community CU, focused on important topics including speaking military, advocacy and industry updates, cybersecurity, financial management systems, and DCUC’s vision for the future.
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.
Defense Credit Unions ‘Loud and Clear’ in Raising Concerns Over DoD Contract Going to Navy Federal (CUToday, September 27, 2023)
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.
Capital Corner: September Promising to Be the Busiest and Most Consequential Month of 2023 in Washington
Provided by John McKechnie
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
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.
Reject the Credit Card Competition Act – protect our military’s readiness! (CUInsight, September 19, 2023)
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?
Joint Release: Financial Services Industry Opposes Effort by Senators Durbin & Marshall to Force Credit Card Routing Mandates into Military Construction, Veterans Affairs Funding Bill (The Electronic Payments Coalition, September 15, 2023)
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):