WASHINGTON — The Defense Credit Union Council is urging Congress to include two bipartisan financial services measures in the fiscal 2027 National Defense Authorization Act, arguing the proposals would strengthen military readiness by improving emergency liquidity for credit unions and expanding affordable housing financing.
In letters to leaders of the Senate Armed Services Committee and key Senate offices, DCUC said it supports including provisions of the Central Liquidity Facility Enhancement Act in the annual defense authorization bill, according to the organization.
The trade group said permanent reforms to the National Credit Union Administration Central Liquidity Facility would restore authorities that expired at the end of 2022 and bolster the ability of defense credit unions to serve military members and their families during emergencies.
‘Military Readiness Issue’
“CLF modernization is not merely a regulatory issue, it is a military readiness issue,” DCUC said in its letter. The organization said defense credit unions provide financial services during deployments, permanent changes of station, government shutdowns, natural disasters, economic disruptions and other emergencies, and that access to a strong emergency liquidity backstop helps ensure uninterrupted financial services.
According to DCUC Chief Advocacy Officer Jason Stverak, Congress temporarily expanded access to the CLF during the COVID-19 pandemic by allowing corporate credit unions to serve as agent members for smaller institutions.
Stverak said those temporary changes increased access to the facility from approximately 283 credit unions to more than 4,100 nationwide, including many serving military installations, veterans, rural communities and underserved populations.
Access Lost
However, when the provisions expired at the end of 2022, more than 3,300 credit unions lost access to the facility and available emergency liquidity declined by nearly $10 billion, according to DCUC.
“The Padilla-Cramer amendment would permanently restore these proven authorities and ensure credit unions can continue serving their members during periods of economic stress and uncertainty,” Stverak said.
DCUC President and CEO Anthony Hernandez, a retired U.S. Air Force colonel, said modernizing the Central Liquidity Facility through the NDAA would help defense credit unions continue supporting servicemembers, veterans and their families during financial hardships.
“When financial stress hits, readiness matters, and this amendment helps ensure these institutions are always prepared to serve those who serve our Nation,” Hernandez said in a statement.
Letter Sent on Afford Act
Separately, DCUC said it also sent a letter to Mark Warner supporting the Access to Fair Financing for Opportunity and Resilient Development (AFFORD) Act, legislation the organization said would expand housing affordability, strengthen Community Development Financial Institutions and improve financial readiness for military families and underserved communities.
According to DCUC, the measure would:
- Expand access to capital for Community Development Financial Institutions.
- Enhance the CDFI Bond Guarantee Program.
- Improve liquidity tools available to mission-driven lenders.
- Help finance affordable housing construction.
- Support small business development.
- Increase investment in underserved communities, including areas near military installations and in rural communities.
The organization also said it supports provisions that would increase oversight and transparency of CDFI programs and provide targeted investments in Native Community Development Financial Institutions serving communities with strong military service traditions and limited access to housing and credit.
‘Key Financial Partners’
“Credit unions continue to serve as key financial partners for military members, veterans, and families, especially as they continue to face significant housing affordability challenges,” Hernandez said. He cited frequent permanent changes of station, limited housing availability near military installations and rising housing costs as factors contributing to financial stress that can affect military readiness, retention and long-term force resilience.
“Financial readiness is inseparable from military readiness,” Hernandez said. “The AFFORD Act strengthens the financial foundation that allows military families to stay focused on their mission and build long-term stability during and after service.”
At Caucus, News Outlet Founders to Close Session to the Press
Separately, America’s Credit Unions said the co-founders of leading news outlet Punchbowl News, Anna Palmer and Jake Sherman, will lead the keynote speaker lineup for Congressional Caucus 2026.
“As two of the most trusted journalists inside the beltway and former authors of Politico Playbook, Palmer and Sherman will share with attendees what is driving decisions on Capitol Hill, what the White House is watching, and how the priorities in front of Congress connect directly to credit unions and the communities they serve,” America’s Credit Unions said.
The trade group said their keynote address will headline this year’s Congressional Caucus, America’s Credit Unions’ event bringing credit union professionals to the political epicenter of the country to learn firsthand how to build strong relationships with policymakers and shape policy.
“Attendees will take away a new and informed understanding of how to engage with lawmakers and how to solidify relationships with them,” America’s Credit Unions said.
America’s Credit Unions said the keynote session by the news organization’s publishers will be closed to press.
