 Your weekly advocacy update: Stay informed, take action, and champion the voice of America’s defense credit unions! This week, DCUC actively defended the credit union mission, engaging Congress on deposit insurance, opposing Form 990 proposals for federal credit unions, countering attacks on the credit union tax status, and urging restoration of the CDFI Fund’s full operations. DCUC also joined a broad coalition in calling for stronger FCC action on robocalls and swiftly rebutted the ABA’s survey and statements targeting credit unions. Stay up to speed as we push forward! Follow along with our weekly announcements here. Top Priorities This Past Week On Monday, DCUC sent a letter to the House Financial Services Committee ahead of its hearing on deposit insurance, expressing concern that no credit union representative was included on the witness panel. Read more here. DCUC also wrote to the Senate Banking Committee and the House Financial Services Committee, firmly opposing proposals to require federal credit unions to file IRS Form 990. Read more here. The reinstatement of all Community Development Financial Institutions (CDFI) Fund employees following recent layoffs was also a key development this week. DCUC praised this as a crucial step toward restoring the Fund’s mission of providing affordable financial services to underserved communities and military families. The announcement came just weeks after reports that a reduction-in-force had eliminated the entire CDFI Fund staff, effectively shuttering the program. We urge leaders in Washington to swiftly restore the Fund’s full operations and resources and to move forward with upcoming award cycles so that no community is left behind, said Anthony Hernandez, DCUC President/CEO. This program’s enduring strength is critical for our nation’s financial and military readiness, and DCUC will continue to champion the CDFI Fund until it is on solid footing for the long run.
DCUC and a broad coalition of leading financial trade associations and consumer protection organizations filed a joint letter with the Federal Communications Commission (FCC) regarding its obligations under the Telephone Robocall Abuse Criminal Enforcement and Deterrence (TRACED) Act. The letter outlined several recommendations for improvements, and noted that STIR/SHAKEN has not significantly reduced fraudulent calls. This coalition is calling for meaningful improvements to the framework, not just technical compliance, added Jason Stverak, DCUC Chief Advocacy Officer. Enhancing enforcement, improving authentication tools, and eliminating outdated exemptions will go a long way in reducing illegal robocalls and strengthening trust in our communications systems. FY2026 National Defense Authorization Act Congress is aiming to finalize and pass the NDAA during the second week of December. Staff and members continued working through the shutdown to move toward a final conference bill. DCUC has remained in close contact with key committees in both chambers to ensure credit union priorities are preserved—specifically the CDFI language and enhancements to the Central Liquidity Facility. Our goal is for these provisions to remain in the final package that moves forward next month. DCUC Responds to ABA Attacks on CU Tax Status Yesterday, DCUC immediately issued a response on behalf of the industry to address the American Bankers Association’s statements promoting its survey, “National Survey: Majority of U.S. Consumers Think Congress Should Hold Credit Unions Accountable.” The ABA released its "findings" yesterday morning, along with a call for Congress to reconsider credit unions' tax exemption, and DCUC promptly set the record straight in an op-ed, leadership statements to the press, and directly to Congressional leaders. Read DCUC's comprehensive response here. Advocacy Discussions Anthony Hernandez: ABA Using ‘Cheap Shots’ And Worn-Out Attacks To Push Congress On CU Tax Status, featured on CUToday. It’s obvious the banking industry prefers cheap shots over genuine transparency about credit unions’ unique role and impact in America’s financial services,” Hernandez told CUToday.info. Congress has already acknowledged and upheld credit unions’ member-owned structure and mission, despite hearing the same tired rhetoric recycled year after year. This narrative is worn out, and intentionally harmful. Jason Stverak: Credit unions stepped up during the shutdown, now Congress must do its part, featured in The Washington Reporter. The shutdown exposed not just political dysfunction, but moral failure. Our troops and their families were caught in the middle of a fight they never asked for. While Washington bickered, credit unions once again became the financial first responders. They acted swiftly and compassionately to help members bridge the gap — proving why credit unions are different. Thank You, Senator Fetterman, for Recognizing Credit Unions, featured on CUTimes. As the Chief Advocacy Officer of the Defense Credit Union Council (DCUC), I want to extend my heartfelt gratitude to Senator John Fetterman (D-Pa.) for using his platform to champion credit unions. During an appearance on The View this week, the senator powerfully noted that, amid the recent federal government shutdown, “those [workers] have to borrow more than half a billion dollars from their credit union just to pay the bills”. In an era of heated partisan debates, Senator Fetterman’s focus on real-life impacts – and his recognition of the credit union difference – is both refreshing and deeply appreciated. Open to all: DCUC’s mission to champion every credit union, featured on Tyfone. For more than 60 years, the Defense Credit Union Council has been synonymous with military-focused credit unions. Yet today, DCUC’s mission extends far beyond the gates of military bases. All credit unions are eligible to join DCUC and gain leading industry representation on issues affecting credit unions and their members. DCUC’s membership now includes more than 200 credit unions serving over 40 million members nationwide – a coalition that spans traditional defense credit unions, community institutions, SEG-based lenders, and CDFIs. While DCUC’s foundation is rooted in defense, its advocacy now extends across every major legislative and regulatory issue facing credit unions today. Why Small Credit Unions Matter, featured on the CU 2.0 Podcast. Go back to when I started to report on credit unions, and there were over 8000 credit unions. Now there are 4370. In 2020, there were 5099 credit unions. Just in five years, the count is down by 700+. The math going forward is gloomy. Comments are closed.
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