DCUC Requests Senate to Address Barriers Facing Credit Unions Supporting Rural America

WASHINGTON, D.C. – Today, the Defense Credit Union Council (DCUC) wrote to the Senate Agriculture, Nutrition, and Forestry Committee ahead of its hearing, titled “Perspectives from the Field: Farmer and Rancher Views on the Agricultural Economy Part 1.”

​Credit unions continue to serve the financial needs of rural communities across America, providing essential financial services and products to farmers, ranchers, and agricultural communities, many of whom have been abandoned by large banks. DCUC urged the committee to address challenges hindering credit unions’ capacities of service to these populations, including:

• Leveling the Playing Field – Congress should ensure credit unions have the tools to compete fairly against the Farm Credit System (FCS), which has expanded beyond its mission and enjoys tax advantages.
  
• Enhancing Agricultural Lending – Expanding exemptions for agricultural loans within credit union lending caps would improve financial access for farmers and ranchers.
  
• Strengthening Rural Financial Institutions – Legislative efforts should prioritize credit unions that serve underserved rural communities.
  
• Encouraging Rural Lending Partnerships – Promoting collaboration among financial institutions will foster economic sustainability in rural areas.

As the committee hears from stakeholders during tomorrow’s hearing, DCUC calls on policymakers to support credit unions that strengthen rural economies and ensure fair financial access for America’s agricultural producers.

For more information, please contact Jason Stverak at [email protected] and visit dcuc.org/advocacy.