The Defense Credit Union Council (DCUC) is pleased with the release of the U.S. House of Representatives’ official text for the “Servicemember Quality of Life Improvement and National Defense Authorization Act for Fiscal Year 2025” (NDAA). The legislation does not include the Durbin-Marshall Credit Card Competition Act (CCCA) or related study proposals that could give rise to similar regulations.

Throughout 2024, DCUC has proactively championed efforts to ensure a clean NDAA free of provisions that could undermine the credit union industry or jeopardize the financial well-being and readiness of our Nation’s military and veterans. These efforts included sending multiple letters to Congress and engaging in direct advocacy against harmful legislative proposals. DCUC worked hard to counter calls for changes to the Federal Credit Union Act (FCUA) that would allow credit unions to accept non-member deposits and provide non-member share insurance, warning of the potential negative impact to the industry’s tax exemption.

In an August 6, 2024, letter to Senators Jack Reed (D-RI), Roger Wicker (R-MS), and Representatives Mike Rogers (R-AL) and Adam Smith (D-WA), DCUC urged Congress to maintain a clean markup of the FY 2025 NDAA. The letter emphasized safeguarding the credit union industry’s tax-exempt status and avoiding unnecessary regulatory changes that could hinder military readiness or burden working-class Americans.

“Our nation’s defense credit unions understand that now more than ever, we need to put our nation’s servicemembers first and reject the hollow call for new laws that would make basic financial services even more expensive for working-class Americans,” wrote Jason Stverak, DCUC Chief Advocacy Officer.

In addition to its direct advocacy, DCUC mobilized its member credit unions to join the effort, encouraging them to contact their state representatives and advocate for a clean NDAA. DCUC also sent a joint letter with America’s Credit Unions (ACU) to the Senate Armed Services Committee reaffirming DCUC’s concerns and calls for opposition.

“DCUC has consistently been the strongest advocate for ensuring a clean NDAA that supports the financial well-being of servicemembers and veterans,” said Stverak. “We will continue to counter harmful amendments and protect the credit union industry’s ability to serve these vital communities.”

Anthony Hernandez, DCUC President/CEO, stated “This year, we faced multiple attempts to introduce harmful language into this must-pass legislation. Thanks to the unwavering support of our member credit unions and our dedicated advocacy, we have successfully protected servicemembers’ and veterans' financial wellbeing, the integrity of the FCUA, and the tax- exempt status of credit unions,” said Hernandez.

As the House and Senate continue to discuss their respective versions of the NDAA, DCUC remains vigilant. “We will monitor the FY 2025 NDAA closely as it moves toward the President’s desk,” Hernandez added. “This victory demonstrates the importance of unity and proactive advocacy in protecting the credit union industry and the communities we serve.”