If the airman securing the oxygen bottle on an F-15 is worried about feeding his baby because the government isn’t paying him during a shutdown, bad things happen. The pilot takes off without complete oxygen. Hypoxia at 60,000 feet. Mission failure.
That’s why military financial readiness is defense readiness.
Anthony Hernandez, president and CEO of the Defense Credit Union Council, joined Sarah Snell Cooke in The Credit Union Connection studio to discuss why credit unions serving military members and veterans play a critical role in national security and what’s happening with policy battles affecting the industry. This episode of the podcast is sponsored by the Defense Credit Union Council.
The Interchange Fight Goes Local
Taking a different track, while the Credit Card Competition Act failed federally, the fight moved to the states. Colorado passed interchange restrictions with an asset floor Tony calls “unworkable.” Illinois has ongoing litigation. Massachusetts, Delaware and New Jersey are considering similar bills.
DCUC is working with the Electronic Payments Coalition to oppose these bills, particularly because of the impact on military members stationed in affected states.
The conversation also covered the CLARITY Act moving through the Senate (stablecoin and crypto oversight), housing affordability hitting military families and why DOD’s financial readiness curriculum excludes credit unions from participating.
Tony’s position: service members need trusted resources who can see into their finances and offer tailored solutions, not command-sponsored programs.
On innovation, DCUC’s CU Unplugged unconference featured engineers “vibe coding” overnight, taking morning discussions and returning with 85-90% solutions the next day. The key takeaway: AI democratizes scale. Any credit union can leverage AI with someone who knows how to write prompts.
DCUC also conducted a brand survey addressing whether to change their name as membership grows. The answer: keeping DCUC. “There’s a definite place for us in the industry,” Tony concluded.