Weekly Watch: April 4, 2025

Your weekly advocacy update: Stay informed, take action, and champion the voice of America’s defense credit unions!

This week, DCUC wrote to congressional leaders and pushed for defense credit unions' impact within America's communities to be at the center of discussions surrounding legislative reforms and new initiatives.

Stay up to speed as we push forward! Follow along with our weekly announcements here.

Top Priorities This Past Week

• DCUC provided its comments in a letter to the House Financial Services Committee in response to Chairman French Hill’s “Make Community Banking Great Again” initiative.
  
  • ​DCUC has advocated for an inclusive approach to strengthen support for all community financial institutions, ensuring credit unions receive the same level of support and regulatory considerations as community banks.
    
• DCUC thanks the U.S. Treasury Department for its recent clarification that all 11 Community Development Financial Institutions (CDFI) programs are statutorily mandated. 
  
  • ​During a recent discussion with a Treasury official, DCUC sought clarity on whether recognition of Native CDFIs was included in recommendations to the OMB, and any potential staffing changes within CDFIs.
    
  • DCUC will continue working with the Treasury, Congress, and the Administration to strengthen and preserve these vital programs.
    
• Opposition to CCCA and Interchange Legislation DCUC remains vigilant against any attempts to expand the Durbin-Marshall framework or introduce unnecessary studies similar to past years' proposals. We strongly oppose the Credit Card Competition Act (CCCA) and are actively engaging with lawmakers to highlight its potential risks to credit unions and their members.
  
  • ​DCUC sent a letter to the Senate Banking, Housing, and Urban Affairs Committee strongly opposing the CCCA. Last week, DCUC joined other financial trade organizations in a joint letter.
    
• DCUC commends Senator Tim Scott’s joint resolution (S.J. Res.18) to repeal the CFPB’s overdraft rule, read more here. The resolution passed the Senate last week (52-48) and is now scheduled for a House vote.
  
• DCUC joined 28 organizations in a joint letter to House Committee on Energy and Commerce Chairman Brett Guthrie and Ranking Member Frank Pallone, expressing strong support for H.R. 1777, the Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act. Read more here.
  
  • ​This bipartisan legislation, which previously passed the House with unanimous consent in the 118th Congress, aims to modernize notarization by allowing businesses and consumers to execute critical documents through secure two-way audiovisual communication. The current requirement for a signer to be physically present before a notary can be impractical or even impossible due to health concerns, military service obligations, or work-related travel.
    
• DCUC sent a letter to the Senate Finance Committee expressing concern over the nomination of Ken Kies as Assistant Secretary of the Treasury for Tax Policy. Read more here.
  
  • ​Given Kies’ history of advocating for the repeal of credit unions' tax-exempt status, DCUC urged the committee to question him on his stance and seek a public commitment that he will not pursue policies that would undermine credit unions' mission. DCUC emphasized that removing this exemption would significantly limit financial resources and services for military families, who already face unique financial challenges due to the military lifecycle.
    
• DCUC strongly opposed Texas Senate Bills SB 2026 and SB 2056 in a letter to the Texas Senate Committee on Business and Commerce.
  
  • ​DCUC warned that these bills would disrupt the current payment system, benefiting large retailers at the expense of consumers while reducing access to affordable credit for service members, veterans, and their families. DCUC urged lawmakers to reject these bills to prevent financial harm to military communities and instead work on alternative solutions that promote fair competition without jeopardizing financial security. Read more here.

Advocacy Discussions
From the Base to Capitol Hill: Advocating for Credit Unions with Jason Stverak of DCUC, featured by Credit Union Examine Solutions, Inc.
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Listen on Apple Podcasts or at Credit Union Exam Solutions, Inc.


Let Credit Unions Stand Tall: Why Community Sponsorships Are a Bold, Rightful Investment, featured in CUToday

​"It seems every time a credit union dares to sponsor a sports stadium or venue, critics from the banking world grab their bullhorns. "How can tax-exempt credit unions afford this?" they cry, as if the presence of a credit union logo on a scoreboard is a betrayal of their mission. What these critics won’t tell you is this: they’ve been doing the same thing for decades, on a much bigger, much more taxpayer-supported scale..."

Read more here.

Join Our Efforts to Preserve the Credit Union Tax Status
📣 The fight isn't over! Let’s present a united front to defend our industry and members!

Join us now by using the following tools we've prepared to assist your credit union:

1. CEO Letter to Congress: Download our pre-drafted letter that CEOs can send immediately to members of Congress. Simply review, personalize as needed, and hit send.
2. Staff Action: Amplify The Message. Encourage your staff to join this effort! Download this sample letter they can send to your state Representatives and Senators. The more voices we raise, the stronger our impact.
3. Credit Union Member Letter: Offer this sample letter to your membership to empower your members to share their voices with Congress.
   

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Use these links to find your Senators and Representatives.

Time is of the essence. We must ensure our elected officials understand that taxing credit unions will harm the very people we serve, our Nation's military personnel, veterans, and their families.

Thank you for standing with us in this critical fight.