Weekly Watch: January 17, 2025

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

An Eventful Week
Our advocacy this week has been firing off on all cylinders. DCUC sent letters to House and Senate committees highlighting our concerns and proposing solutions to improve military banking, veteran financial well-being, and credit union regulations.

​We also celebrated the bipartisan introduction of the Veterans Member Business Loan Act (VMBL) by the Senate (S.110) and House (H.R.507), see our release here. This legislation will empower veteran entrepreneurs by removing outdated lending caps that currently hinder credit unions from fully supporting our nation's service members and veterans in their business ventures. We strongly encourage you to contact your Representative and Senators and ask them to support this co-sponsored bill.

We also encourage you to send this important sample letter to your Representative and Senators calling on their support to preserve our tax status. This fight is gearing up and our voices have an even greater impact when joined together!

Top Initiatives This Week

• DCUC's letter sent to the Senate Judiciary Committee addressed concerns over potential CRA-like requirements that could limit credit unions' ability to provide financial services.
• ​DCUC called for the preservation of the credit union tax status in our letter sent to the House Ways and Means Committee; ahead of the committee hearing, "The Need to Make Permanent the Trump Tax Cuts for Working Families." Read more here.
• DCUC's letter sent to the Senate Banking, Housing, and Urban Affairs Committee stressed the unique challenges faced by military and veteran families in securing loans and purchasing homes.
• DCUC sent a letter to the Senate Finance Committee ahead of Treasury Secretary Confirmation hearing highlighting critical issues impacting the financial well-being of military personnel, veterans, and their families. Read more here.
• DCUC sent a letter to the Financial Institutions and Monetary Policy Subcommittee regarding the de novo bank bill and regulations that create challenges for de novo credit unions. Read more here.

On Wednesday, DCUC participated in key stakeholder meetings alongside America's Credit Unions (ACU) organized by the Electronic Payments Coalition (EPC) to oppose legislative efforts proposing to alter the interchange system in the new Congress.

We discussed how the proposed interchange legislation would introduce avoidable economic challenges and bring long-term repercussions to our nation's financial ecosystem and consumers. DCUC plans to highlight the EPC's findings in future letters of opposition to CCCA and similar interchange proposals, and values these collaborative meetings with fellow advocates. 

Senate Confirmation Process and Hill Advocacy
DCUC will continue to monitor Congressional confirmations and hearings closely. We have preparations underway for additional meetings on Capitol Hill to support pro-credit union policies and strengthen relationships with new appointees.

Join DCUC, Call on Congress to Preserve the Credit Union Tax Status
📣 Act now! Let’s present a united front to defend our industry and members!

DCUC is standing firm against misinformation and attacks on the credit union tax exemption. We published a CUToday op-ed and wrote to Congress on this ongoing issue. However, our voice is stronger when joined with yours to protect credit unions’ not-for-profit status and member-focused mission.

We urge you to take a few minutes out of your day to send this sample letter to your Representatives and Senators. We need to thank them for recognizing the vital role of credit unions—especially those serving military and veteran communities—and urge them to preserve our tax exemption. Together, we can ensure credit unions remain a trusted choice for affordable financial services and exemplify an important part of the financial ecosystem, no matter how hard for-profit banks attempt to undermine our mission.

Advocacy Discussions
Debunking Misconceptions: The Truth About Credit Unions, Taxation, And Community Banking, featured on CUToday.com

In this op-ed, we address the Independent Community Bankers of America's (ICBA) ongoing portrayal of credit unions, countering their claims about tax advantages, mission drift, and acquisitions of community banks. This article highlights how the ICBA continues to overlook tax benefits enjoyed by Subchapter S community banks, such as pass-through taxation and other mechanisms while criticizing credit unions' tax-exempt status. We will continue to defend credit unions’ lasting mission to serve underserved populations, emphasizing the positive community impact, member-focused operations, and the importance of having an honest, informed dialogue about tax equity and financial fairness. Read more here.

Shared Accounts Podcast with CU Times: Jason Stverak & DCUC’s Busy 2025 🎙️ 

Don’t miss DCUC's Chief Advocacy Officer Jason Stverak on Credit Union Times' Shared Accounts podcast! He shares 2025 priorities, from safeguarding CU tax-exempt status to Consumer Financial Protection Bureau reforms, and his passion for advocating for CUs. Listen here!


​If you have any questions, concerns, or wish to discuss these or other advocacy matters, please do not hesitate to Jason Stverak, DCUC Chief Advocacy Officer at [email protected] or 202.557.8528.