DCUC Hosts Defense Matters 2024 Ahead of ACU’s GAC Kickoff

WASHINGTON, DC – The Defense Credit Union Council (DCUC) concluded its Defense Matters 2024 morning advocacy session on Sunday, March 3, at the Marriott Marquis in Washington, D.C. This year’s forum featured several discussions weighing heavily on advocacy and legislative topics specific to credit unions serving military and veteran communities.

The conversations began with DCUC’s President/CEO Anthony Hernandez and DCUC’s strategic partner and lobbyist, John McKechnie, where both provided attendees with updates on current and emerging advocacy issues. Hernandez and McKechnie also discussed how DCUC members can join in securing impactful wins for the credit union industry as a whole.
 
“Credit unions will be facing some complex, and frankly, volatile issues in Washington, maybe more this year than any other in recent memory,” said McKechnie. “Given some difficult headlines in the media, it will be especially important for credit union advocates to step forward and paint a fuller picture of how credit unions serve America’s consumers.”
 
Following McKechnie and Hernandez’ updates, Ari Fleischer, former White House Press Secretary, joined the stage to share his take on the latest news coming out of Washington.
 
Hernandez asked Fleischer several questions related to the climate within the country during the ensuing polarized political campaign. One of those questions was whether Fleischer believed the country would ever get back to a unified stance.
 
“Our country is going through a phase. Eventually, we’ll get so tired of the inaction, that it’ll push us to come together,” said Fleischer. “And it takes a leader willing to push past the polarization and take action to bring unification, not just promise it.”
 
Attendees and guests were very responsive and engaged in the session, especially when questions were opened to the audience during Fleischer’s discussion. Questions centered around political candidates' current campaigns as well as the top policy priorities Fleischer believes each party may run on. Fleischer also shared his predictions on potential ticket outcomes later in the year and future years’ potential candidates.

​Hernandez then welcomed Elizabeth Eurgubian, NCUA Director of External Affairs and Communications and Policy Advisor, to the stage. Eurgubian appeared on behalf of NCUA Chairman the Honorable Todd Harper who was unable to attend.
 
Eurgubian spoke about several top priorities the NCUA is focusing on amid industry changes. Some of the priorities mentioned topics such as the credit union industry becoming more innovative, fair lending compliance, redlining issues (particularly with community-based charters), auto lending and direct auto lending, overdraft protection (how programs are being marketed and if they misleading to a consumer), and third-party vendor authority.
 
Hernandez asked Eurgubian what it would mean for credit unions if the NCUA potentially institutes third-party vendor authority.
 
Eurgubian answered “Right now, the NCUA explicitly does not have authority in the statute to examine credit unions’ third-party vendors. If the NCUA is granted the authority in the future, you can expect there to be a focus on examining concerns such as cybersecurity, as well as safety and soundness with consumer protection.”
 
Eurgubian continued by sharing “one of the criticisms or concerns we hear on this topic is related to redundancy; if bank regulators have the authority to examine third-party vendors, the question often is why do credit unions need it,” said Eurgubian. “The NCUA is concerned with the fact that bank regulators don’t do well in sharing their information with the NCUA related to regulating third-party vendors or what trending issues and concerns they are seeing.”
 
The discussion concluded with Eurgubian explaining what credit unions can expect for the road ahead as the industry approaches the 90th Anniversary of the Federal Credit Union Act.
 
Hernandez ended this year’s Defense Matters by sharing why this special event is so important to DCUC and ahead of this week’s meetings on the Hill.
 
“It was really great to see our members here in Washington, D.C. Our Defense Matters continues to serve as an important part of this week’s meetings. We always look forward to this session every year where we can join together in advocating for all credit union industry issues.”
 
DCUC’s 2024 Defense Matters was made possible thanks to its generous sponsors: AFFN, ALM First, LendKey, PARC Street Partners, OMNICOMMANDER, Risk Strategies, and TruStage. To learn more about how DCUC advocates for all credit unions serving our Nation’s military and veterans, visit dcuc.org/Advocacy.