Weekly Watch: June 27, 2025

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

This week, DCUC engaged with Congress ahead of Fed Chair Powell’s testimony, advocating for streamlined regulations and pushing back on CFPB overreach. As Senate negotiations on the reconciliation bill continue, DCUC is working to protect the credit union tax status and ensure defense credit union priorities remain intact.

DCUC has also voiced strong support for expanding lending access, long-term NFIP reauthorization, and balanced CFPB oversight that doesn’t burden smaller credit unions.

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

Top Priorities This Past Week
DCUC provided its comments to the Senate Committee on Banking, Housing, and Urban Affairs ahead of the Committee’s hearing with Federal Reserve Chair Jerome Powell. Our letter listed nine policy priorities critical to the credit union mission. Read more here.

On Monday, we sent two letters to Congress, sharing key priorities for defense credit unions and the communities they serve.

• DCUC’s letter to Senate Finance called for the protection and preservation of the credit union tax status as the reconciliation bill moves forward. DCUC remains in close contact with Senate staff as leadership pushes to finalize the bill by July 4. DCUC strongly opposed any proposal to eliminate the tax exemption in the upcoming 2025 budget reconciliation package, warning that doing so would increase costs for working Americans; reduce financial services for underserved and military communities; undermine competition and local lending capacity; and yield minimal federal revenue in exchange for substantial economic harm.
  
• DCUC also sent a letter to the House Financial Services Committee (HFSC) ahead of Federal Reserve Chair Jerome Powell’s testimony, outlining several key policy concerns. Read more here.

Since yesterday, DCUC has also highlighted three key initiatives in its direct engagement with congressional offices:

1. modernizing outdated federal credit union loan maturity limits;
2. reauthorizing the National Flood Insurance Program (NFIP);
3. ensuring regulatory accountability at the Consumer Financial Protection Bureau (CFPB). 
   

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Whether we’re advocating for smarter lending rules, supporting critical programs like the NFIP, or urging balanced oversight from regulators, DCUC and our member credit unions’ goal remains the same: to protect and champion the financial well-being of those who protect us.

“For military families undergoing Permanent Change of Station (PCS) moves, the NFIP’s continuity is especially vital,” says Anthony Hernandez, DCUC President/CEO. “An NFIP lapse could delay home sales or purchases during relocations, forcing families into financial hardship. Stable housing supports mission readiness, family resilience, and long-term economic security.”

Read our press release covering our comments and letters here.

Reminder of Recent Passage of the GENIUS Act (S.1582)
 
The Senate’s recent 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. 
 
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.
 

• Assess Eligibility – Determine if your credit union could qualify as a “permitted payment stablecoin issuer” under the GENIUS Act: S.394 (23). 
• Evaluate Infrastructure – Consider what tech and operational updates would be needed to support stablecoin transactions, including wallet integration and compliance systems. 
• Engage with Regulators – Stay informed on forthcoming guidance from NCUA and other relevant agencies on how to stay compliant and competitive.

Credit Union Tax Status, Budget Reconciliation Mega-bill
 Lawmakers are still eyeing a July 4 deadline.
 
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.


DCUC Congratulates Travis CU, Travis AFB, & Otero FCU, Holloman AFB for being selected as 2024 Air Force Distinguished Credit Union of the Year
 
DCUC proudly announced Travis Credit Union, Travis Air Force Base (AFB), and Otero Federal Credit Union, Holloman AFB, have been selected by the Department of the Air Force as the 2024 Air Force Distinguished Credit Union of the Year. All submissions from banks and credit unions were received and carefully reviewed by the United States Air Force Financial Management and Comptroller Command, Department of the U.S. Air Force, for consideration.
 
“We proudly congratulate Travis Credit Union and Otero Federal Credit Union—along with their dedicated staff at Travis and Holloman Air Force Bases—for earning the prestigious title of Air Force Credit Union of the Year,” said Hernandez. “This honor is a testament to their unwavering commitment to our military communities, delivered with excellence, compassion, and a profound sense of duty. They are a remarkable example of what it truly means to serve those who serve.”
 
Read the full announcement here.

​DCUC Chief Advocacy Officer Speaks at NCUMA

During the NCUMA conference, Jason Stverak, DCUC Chief Advocacy Officer gave a speech to share with attendees about how credit union advocacy stands at a pivotal turning point.

Stverak warned of rising legislative, reputational, and regulatory threats and stressed that the traditional, top-down lobbying model is no longer sufficient.

Instead, he called for a democratized approach—one that engages every credit union and their members in grassroots advocacy, proactive planning, and shared responsibility.

As part of his speech, Stverak encouraged that embracing change, preparing for the unexpected, and finding opportunities in adversity will be essential to shaping a stronger future for the credit union movement.