WASHINGTON– The Defense Credit Union Council (DCUC) has sent numerous letters to Capitol Hill.
Letter on Business Lending
DCUC send to the House Small Business Committee on Oversight, Investigations, and Regulations, urging critical reforms that would allow credit unions to better serve America’s small businesses.
“Outdated statutory caps and bureaucratic barriers are preventing credit unions from fully supporting local entrepreneurs,” says Jason Stverak, DCUC’s Chief Advocacy Officer. “By modernizing these restrictions, Congress and the Small Business Administration (SBA) could unlock billions in capital for small businesses—at no cost to taxpayers—while driving job creation and economic growth.”
Letter on Housing
DCUC sent a letter to the Senate Banking, Housing and Urban Affairs Committee stating ahead of its hearing titled “Housing Roadblocks: Paving a New Way to Address Affordability.”
In the letter, DCUC detailed how the affordable housing crisis is one of the most pressing challenges facing millions of Americans today.
“The U.S. faces an estimated shortage of 7.3 million affordable homes for the lowest-income renters, leaving only 34 affordable and available units per 100 extremely low-income households (National Low Income Housing Coalition, 2024). Nearly half of all renter households are cost burdened, meaning they spend more than 30% of their income on housing, with over 8.53 million households experiencing severe cost burdens (HUD, 2023). For military families, this crisis is even more pronounced. Service members face unique challenges, including frequent relocations, high housing costs near bases, and housing allowances that often fail to keep pace with rising rents.”
DCUC shared how defense credit unions play a vital role in financing homeownership and affordable housing solutions for service members through:
Letter on CBDCs
DCUC sent a letter to the House Financial Services Committee (HFSC) regarding the regulation of stablecoins and concerns over a potential U.S. Central Bank Digital Currency (CBDC).
DCUC said it supports a federal framework for payment stablecoins that ensures regulatory parity, interoperability, and protection for credit unions.
DCUC said it strongly opposes retail CBDC, due to: financial disruption (a CBDC could draw deposits away from community banks and reduce access to credit), privacy risks and cybersecurity threats, and notes that existing payment innovations already improve efficiency without the need for a CBDC.
DCUC requested Congress to maintain strict oversight on currency and payment system changes and to endorse H.J.Res. 64 to ensure major financial policy decisions are democratically debated rather than imposed by regulatory agencies.
New Member Joins
Separately, the DCUC said it has added University of Kentucky Federal Credit Union in Lexington as a new member.
“UK Federal Credit Union is proud to support the Defense Credit Union Council, as their mission and purpose strongly align with ours,” said Ryan Ross, UKFCU President & CEO. “DCUC plays a vital role in advocating for military veterans and championing the essential work of credit unions in serving their communities. At UKFCU, we are driven by the core credit union philosophy of ‘people helping people,’ ensuring that every member is valued, supported, and empowered to achieve their financial goals.”
“DCUC is excited to welcome UKFCU and looks forward to working together to expand access to quality financial services for military members, veterans, and their families,” said Anthony Hernandez, DCUC President & CEO.