WASHINGTON — The Defense Credit Union Council (DCUC) is urging Congress to advance a conference committee to reconcile competing House and Senate housing bills, while pressing lawmakers to include a set of credit union-focused reforms aimed at expanding access to homeownership.
In a letter to Rep. Maxine Waters (D-CA), ranking member of the House Financial Services Committee, DCUC Chief Advocacy Officer Jason Stverak said moving the Housing for the 21st Century Act (H.R. 6644) into conference is “both timely and necessary,” adding that meaningful housing reform will require “bicameral coordination and bipartisan consensus to deliver real results for American families,” according to the organization’s correspondence.
DCUC said the conference process presents a “critical opportunity” not only to finalize housing legislation but also to strengthen the financial infrastructure supporting homeownership, particularly for servicemembers, veterans and underserved communities.
DCUC is advocating for inclusion of four bipartisan priorities in the final package: modernization of credit union board governance, reforms to the Central Liquidity Facility, expanded loan maturity authority, and changes to member business lending rules for veterans.
Reduced Burdens
According to DCUC, modernizing board meeting requirements would reduce administrative burdens and allow credit unions to redirect resources toward lending and member services, while enhancements to the Central Liquidity Facility would improve access to liquidity during economic stress, particularly for smaller institutions.
The organization also said extending loan maturities could lower monthly payments and improve affordability for first-time homebuyers and military families, and that adjustments to member business lending caps would help veteran entrepreneurs gain better access to capital.
‘Critical Moment’
In a separate statement, DCUC President and CEO Anthony Hernandez said the conference committee represents “a critical moment” to ensure “bipartisan, commonsense credit union reforms are included in the final package,” adding that the measures would help expand mortgage access and support underserved communities.
DCUC said credit unions remain “on the front lines” of serving military and working families and pledged to work with Congress to secure what it described as meaningful outcomes through the conference process.
