Jason Stverak, Chief Advocacy Officer, Defense Credit Union Council
On Veterans Day, our gratitude should reach the people whose service made our freedom possible and the families who shared its cost. A thank you matters. So does what happens after the ceremony, when a veteran needs help starting a new chapter or a surviving spouse faces another difficult day without the person who should be beside them.
Veterans Day grew out of Armistice Day, marking the halt in fighting between the Allies and Germany on November 11, 1918. Renamed in 1954, it honors all who served honorably, in war and peace, with particular emphasis on thanking living veterans; Memorial Day specifically remembers those who died in military service.
Every veteran’s service deserves recognition. The person who maintained aircraft, cared for wounded troops, or stood watch far from home accepted obligations most Americans never assume. Service may involve danger, separation, missed birthdays, and uncertainty. We should resist measuring someone’s contribution only by combat experience or visible wounds.
As Chief Advocacy Officer of the Defense Credit Union Council, I believe our gratitude must include a commitment to veterans’ lives after service. Leaving the military can mean finding a new career, deciding where to settle, and learning to manage a household budget without familiar military pay and benefits. These are decisions that shape a family’s future.
Veterans bring valuable skills and experience to those decisions. They have led teams, solved problems under pressure, and accepted responsibility for others. Our job is to help them put those strengths to work. A veteran seeking a mortgage or financing for a business deserves a financial partner who takes time to understand both the goal and the circumstances.
For defense credit unions, that relationship is central to our purpose. Many grew from military communities that needed dependable financial services despite frequent moves and deployments. The trust built during those years should continue when a member leaves the service, changes careers, or returns home to start over.
Credit unions are financial cooperatives owned by their members. Their not-for-profit structure directs earnings toward member benefits, including lower fees and better rates. For institutions serving military communities, that model supports a personal commitment: understand the circumstances behind an account and help the member move forward.
That can begin with practical conversations before separation. How will housing costs change? What income can the household count on while a veteran looks for work? How much should be set aside for an emergency? Clear answers can help someone make a plan before a temporary gap in income becomes a lasting financial setback.
DCUC helps credit unions participate in the Veterans Benefits Banking Program. Participating institutions offer qualifying veterans free checking with no minimum balance when they receive a monthly monetary benefit deposit. They also offer assistance to veterans who do not initially qualify for an account. A dependable way to receive and manage benefits is a foundation for financial stability.
DCUC’s Veterans Home Buying Guide also helps veterans understand the homebuying process and make informed decisions. Good financial education should help people weigh costs, ask questions, and recognize when an offer does not fit their needs. The goal is confidence in a decision that will affect their household for years. The right advice should leave a veteran better prepared to choose, without pressure to buy anything.
Congress has a concrete opportunity to support that next chapter. DCUC is urging lawmakers to pass the bipartisan Veterans Member Business Loan Act, H.R. 507 and S. 110. The legislation would exempt qualifying loans to veterans from the credit union member business lending cap, giving credit unions greater room to finance veteran entrepreneurs.
Today, federal law limits how much many credit unions can lend to member businesses. A credit union approaching that ceiling can be unable to finance another sound business proposal even when it has the resources and expertise to lend. For a veteran ready to buy equipment, open a shop, or hire an employee, that restriction can close an otherwise promising door.
The bill creates no new federal lending program and provides no new loan appropriations. Credit unions would still evaluate borrowers and remain responsible for safe lending. Congress would remove a barrier to financing, while lenders would continue deciding whether individual loans make sense. Veterans deserve the opportunity to have their plans considered on their merits.
That is a practical way to honor service. A veteran who builds a successful business can create jobs and continue contributing to the community. Congress should turn bipartisan support for this legislation into passage. Veterans should be able to see what our appreciation means in the opportunities available to them.
Families remain part of this responsibility. Spouses and children share the demands of service and the adjustments afterward. Gold Star and other surviving families carry losses that never follow a calendar. A family should never have to wonder whether its place in the military community ended with a funeral. Patient financial guidance and lasting personal connections can help ease the burdens they face.
Each of us can carry this commitment forward. Listen when a veteran wants to share a story. Hire veterans and recognize the experience they bring. Support a veteran-owned business. Ask a neighbor what would help, and follow through after the holiday has passed.
At DCUC, “Serving ALL Who Serve” means standing with veterans through the lives they build after military service. When November 11 passes, our gratitude must remain something they can count on.