WASHINGTON — The Defense Credit Union Council said it has engaged leaders of the House and Senate Armed Services committees to outline bipartisan priorities it wants included in the fiscal 2027 National Defense Authorization Act, emphasizing the role of credit unions in supporting military financial readiness.
In a letter to lawmakers, DCUC said credit unions serving military communities provide a consistent on-base presence and should be viewed as integral to national defense.
“Credit unions commit to providing an impactful presence on and near installations, often serving as the only regulated financial institutions with a daily presence,” said Anthony Hernandez, president and CEO of DCUC, in a statement. “As Congress begins drafting the FY2027 NDAA, it is essential that policies reflect the real-world financial needs of those who serve.”
The organization said financial services for servicemembers should be treated “as a defense-readiness issue, not as a peripheral banking matter,” adding that “financial readiness is mission readiness.”
Critical Role in ‘Morale’
DCUC pointed to Department of War policies that recognize the connection between financial stability and military readiness, noting that on-installation financial services play a role in morale, consumer protection and resilience.
The group also cited examples during past government shutdowns when credit unions provided relief, including zero-percent emergency loans, paycheck advances, fee waivers and mortgage assistance to military families.
Policy Action Recommendations
In the letter, DCUC Chief Advocacy Officer Jason Stverak called for several policy actions, including:
- Establishing an advisory committee and requiring recurring Department of War reporting on access to financial services on installations
- Incorporating provisions related to the Central Liquidity Facility, board modernization, loan maturities and the Veterans Member Business Loan Act
- Directing the Department of War to better integrate qualified on-base financial institutions into financial readiness efforts
- Keeping unrelated provisions out of the NDAA, including any effort to extend share insurance coverage to nonmembers
“We’re also asking Congress to preserve the integrity of the credit union system and ensure financial readiness remains a core component of national defense policy,” Hernandez said.
