The House just passed the 21st Century ROAD to Housing Act, and while it’s not exactly a mic-drop moment for credit unions, it’s definitely a step in the right direction.
The Defense Credit Union Council (DCUC) is calling it a solid start—with emphasis on “start.”
“We appreciate that Congress is actually focusing on housing solutions right now,” says Anthony Hernandez, DCUC President and CEO (and retired U.S. Air Force Colonel, because yes, he’s got the credentials). “The credit union board modernization provisions tucked into this bill? That’s good news. It gives federally insured credit unions more operational flexibility, which is always welcome.”
But here’s the thing: there’s more work to do.
Hernandez didn’t stop at the thank-you speech. He’s pushing Congress to keep the momentum going and work directly with credit unions on additional reforms that would actually move the needle on homeownership and financial stability for members.
What’s Still on the Wish List?
The DCUC has a few specific items they’d love to see tackled next:
- Loan maturity modernization – updating outdated rules so credit unions can offer more competitive loan terms
- Veteran member business lending (VMBL) improvements – making it easier for credit unions to support veteran entrepreneurs
- Central Liquidity Facility (CLF) enhancements – basically giving credit unions better access to emergency funding when they need it
These aren’t just nice-to-haves. According to the DCUC, they’re essential tools that would help credit unions better serve their members across the country.
“Credit unions are out here doing the work—expanding access to affordable financial services and helping people build long-term financial stability,” adds Jason Stverak, DCUC Chief Advocacy Officer. “Smart, targeted reforms give these community-based institutions what they need to keep up with the changing housing and lending landscape.”
Translation? Credit unions want to help more people get into homes and manage their money better. They just need Congress to update some rules that are gathering dust from a different era.
So while the 21st Century ROAD to Housing Act is a win worth celebrating, it’s really just the opening act. The DCUC is making it clear: let’s keep this conversation going.
Related:
Credit Unions Get a Seat at the Table as Trump Administration Tackles Fintech and Financial Reform
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