DCUC Leads Industry in Success with Clean FY 2025 NDAA Passage

​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.

Throughout 2024 and in prior years, DCUC has been relentless in leading the industry’s opposition of proposals that could undermine the credit union mission or jeopardize the financial security of our Nation’s military members and veterans. Through letters to Congress, direct advocacy with industry partners, and targeted ad campaigns to boost public awareness, DCUC worked tirelessly to highlight the negative impacts of the CCCA or the proposed interchange laws.

Additionally, DCUC strongly opposed calls to amend the Federal Credit Union Act (FCUA) to allow credit unions to accept non-member deposits and provide non-member share insurance, warning of the potential risks it could pose to the credit union tax-exempt status.

In an August 6, 2024, letter addressed to Senators Jack Reed (D-RI), Roger Wicker (R-MS), and Representatives Mike Rogers (R-AL) and Adam Smith (D-WA), DCUC urged Congress to preserve a clean markup of the FY 2025 NDAA. DCUC’s letter emphasized the importance of protecting the tax-exempt status of credit unions and avoiding regulatory changes that could hinder military readiness or place burdens on working-class Americans.

“We are pleased to see both chambers of Congress prioritizing the financial security of our servicemembers by rejecting harmful and unnecessary amendments to the NDAA, which would bring increased costs and security risks for working-class Americans,” wrote Jason Stverak, DCUC Chief Advocacy Officer.

DCUC rallied the support of its member credit unions to join its efforts, encouraging them to contact their state representatives in support of a clean NDAA. Additionally, DCUC collaborated with America’s Credit Unions (ACU) by sending a joint letter to the Senate Armed Services Committee reaffirming DCUC’s concerns and opposition.

“DCUC is proud to lead the charge each year in advocating for a clean NDAA that champions the financial well-being of servicemembers and veterans,” said Anthony Hernandez, DCUC President/CEO. “This success is a testament to the unwavering support of our member credit unions, our collective advocacy, and Congress’ prioritization of servicemembers’ and veterans' financial security. We have not only protected our military and veteran communities, but also upheld the integrity of the FCUA, and preserved the tax status of credit unions. This victory demonstrates the power of unity and proactive advocacy in championing the credit union industry and the communities we serve,” said Hernandez.
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For more information, please visit dcuc.org/advocacy and contact Jason Stverak, DCUC Chief Advocacy Officer at [email protected].