 Your weekly advocacy update: Stay informed, take action, and champion the voice of America’s defense credit unions! DCUC is moving credit union advocacy from defense to offense. We’re not just responding—we’re leading the conversation, shaping policy outcomes, and making sure the credit union voice is heard where it matters most. Just this week, we’ve seen two major wins:
These outcomes didn’t happen by chance—they reflect the strength of proactive, united advocacy. As Congress continues to recognize the role of financial institutions in community development, we are doubling down on telling the credit union story—not for profit, but for purpose. Let’s keep showing what credit unions do best: serve communities, support service members, and strengthen America from the ground up. This has been a remarkable week for credit unions and, more importantly, for the people and communities we serve. These victories prove what we can accomplish when we work together — and remind us of the vital role advocacy plays in protecting access to fair, responsible, and cooperative financial services." - Anthony Hernandez, DCUC President/CEO. Stay up to speed as we push forward! Follow along with our weekly announcements here. Top Priorities This Past Week DCUC sent a letter today to Russell T. Vought, Acting Director Consumer Financial Protection Bureau (CFPB), offering a path forward to preserve and strengthen financial literacy programs for our nation’s servicemembers, veterans, and their families. "In light of the Bureau’s recent decision to curtail the use of civil penalty funds for consumer education—as reported in American Banker on June 19—we believe this moment calls for a creative, mission-driven solution. DCUC proposes a public-private partnership with the CFPB to leverage the trusted and proven expertise of defense credit unions in delivering financial education where it is needed most: on bases, in VA facilities, and military communities across the country." DCUC sent a letter ahead of the Senate Judiciary Committee's hearing focused on protecting seniors from financial scams. Read more here. “The threats this hearing will examine strike at the heart of the communities credit unions are built to defend. Defense credit unions are uniquely positioned to detect and disrupt these scams, and we are eager to partner with Congress on scalable solutions that protect these most vulnerable veterans.” “Our members are on the front lines of financial fraud every day. We see the toll these scams take on older Americans—especially veterans who served with honor and now face a new kind of enemy online. It’s time to scale our defenses and work together on bipartisan solutions,” says Hernandez. DCUC and the Association of Military Banks of America (AMBA) issued a joint letter to Senate Finance Committee leadership expressing strong concern over a proposed 3.5% excise tax on outbound remittances included in the current reconciliation package. Read more here. Read CUToday's coverage of both these priorities here! DCUC commended Illinois Governor J.B. Pritzker for signing legislation that delays the implementation of the flawed Interchange Fee Prohibition Act until July 1, 2026. This delay is a necessary and responsible step toward protecting Illinois’ credit unions, community banks, small businesses, and consumers from significant disruption to the unified global payments system. "We thank Governor Pritzker and his administration for their attention to this critical issue. DCUC strongly urges the Illinois General Assembly to fully repeal this misguided law. Protecting the integrity of the payments system and ensuring fair, consistent treatment for all financial institutions is essential for maintaining consumer trust and economic stability. Delaying implementation is a step in the right direction—and we will continue to advocate for policies at the state level that support local financial institutions, military families, and the communities they serve." DCUC also applauded the CFPB’s decision to extend the compliance timeline for its small business lending rule 1071. This move gives financial institutions — particularly smaller ones — more breathing room to prepare, align systems, and plan effectively, all while continuing to serve small business borrowers. Passage of the GENIUS Act (S.1582) The Senate’s passage of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act (S. 1582) — which moved forward without the harmful Durbin-Marshall amendments related to interchange fees. We count this as a solid victory after pressing our concerns to key committees ahead of hearings and official votes. We don't expect the fight against the flawed CCCA/interchange proposals to be over anytime soon, and will be monitoring new attempts in the coming months with other legislation. As payment methods evolve—including crypto, digital wallets, and alternative platforms—our industry/credit unions must be prepared to adapt; e.g., some businesses now accept Bitcoin, bypassing traditional card networks and associated fees. The broader transformation of the payments ecosystem will require credit unions to stay proactive and flexible to remain competitive and compliant.
The Credit Union Tax Status, Budget Reconciliation Mega-bill: Where are we on this? DCUC is encouraged to see that the Senate version of the reconciliation bill contains no language altering the longstanding federal tax status of credit unions. This is a huge victory in preserving the ability of credit unions to continue offering affordable, mission-driven financial services. *A vote is expected as soon as mid-next week, with lawmakers still eyeing a July 4 deadline. Read more here. "We are thankful that the Senate has recognized the value credit unions provide to their communities by preserving our tax-exempt status," said Hernandez. "We will remain vigilant and continue monitoring the legislative process closely to ensure the credit union mission and impact are supported on behalf of America's communities across the nation and overseas." DCUC has led the charge in both the House and Senate — from driving coordinated letters to both Senate Finance and House Ways & Means, to spearheading industry-wide strategy sessions, grassroots mobilization, and real-time Hill engagement. "Our proactive advocacy ensured lawmakers heard the credit union story clearly: every dollar of savings, every lower loan cost, every community investment stems from this tax status. We’re grateful for the bipartisan leadership in preserving it, and remain committed to maintaining this protection through final passage," added Stverak. Advocacy Discussions ENGAGE25: DCUC's Hernandez Talks Continued Taxation Fight Efforts...Stverak Talks Advocacy and Community Engagement, featured on CUBroadcast Anthony Hernandez, DCUC President/CEO, stopped by CUBroadcast's Studio Lounge to share more from his panel session during ENGAGE 2025 on "Collaboration and Partnerships: Driving the Future of the Credit Union System." Hernandez discussed DCUC's advocacy efforts, including joint meetings and letters to Congress preserving and protecting the credit union tax status, as well as legislative challenges and the importance of supporting military and veteran communities. Jason Stverak, DCUC Chief Advocacy Officer, also joined CUBroadcast to expand on his ENGAGE2025 session on "Fighting for All Credit Unions, Protecting Those Who Serve: Inside DCUC’s Advocacy Mission." Stverak discussed key bills like the Genius Act and National Defense Authorization Act, focusing on community engagement and educating Congress on credit union issues; also sharing more insights on financial literacy initiatives and CDFI funding. Watch the CUBroadcast episode with Hernandez here. Watch the CUBroadcast episode with Stverak here. Preparing for tomorrow, today: Why Congress must make access to the Central Liquidity Facility permanent, featured on Tyfone When the COVID-19 pandemic struck in early 2020, America’s credit unions rose to meet the moment. Amid unprecedented economic disruption, they stood firm—offering payment deferrals, emergency loans, and personalized support to help their members weather the storm. But behind that extraordinary front-line response was a critical system-level backstop: the Central Liquidity Facility (CLF). It ensured that credit unions, particularly smaller institutions, had access to emergency liquidity without delay, panic, or red tape. Now, with the public health crisis behind us but new economic uncertainties ahead, it’s time for Congress to take the lessons of COVID-19 seriously and act decisively. Chief among these is the need to permanently restore and modernize access to the CLF via corporate credit unions. This is not just smart policy—it’s essential preparedness. Read more here. For Over 60 Years, We’ve Fought For Military Financial Readiness. The NDAA Is Our Mission—Not a Marketplace, featured by CU Today
"As Congress turns its attention to the National Defense Authorization Act (NDAA), the most important annual bill for America’s national security, there’s one message that must ring clear: stay laser-focused on the mission. Because no one knows that mission—or has fought longer and harder to protect it—than the Defense Credit Union Council, DCUC, and America’s defense credit unions..." Read the full article here. Comments are closed.
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