Today, the Defense Credit Union Council, (DCUC), sent a letter extending congratulations to Secretary of the Treasury nominee, Scott Bessent, while emphasizing DCUC’s commitment to collaborating on critical financial priorities.

“On behalf of the Defense Credit Union Council and our member credit unions serving service members, veterans, and their families, I want to congratulate you on your nomination as Secretary of the Treasury,” stated Jason Stverak, DCUC Chief Advocacy Officer. “Your dedication to economic growth and capital formation has been commendable, and we are confident that your leadership will further strengthen America’s financial institutions.”

DCUC provided Bessent its strategic priorities for the Treasury to consider, recognizing the critical intersection of financial inclusion, capital formation, and sustainable growth. In the letter, Stverak outlined DCUC’s position on core issues related to the credit union and overall financial industry. Stverak discussed the preservation of credit union tax status, avoiding overregulation, ensuring an independent NCUA, credit card fee regulations, expanding veteran business lending exemptions, opposing expansive and unnecessary CRA requirements, and enhancing the financial readiness of military and veteran communities.

Stverak expressed DCUC’s eagerness to collaborate with Bessent and his team, highlighting shared goals of economic stability and inclusivity.

“Defense credit unions stand ready to partner with the Treasury Department to enhance the financial well-being of all Americans, particularly those who serve and have served our Nation,” stated Stverak. “We applaud your contributions to fostering capital formation and your understanding of how mission driven financial institutions like credit unions contribute to economic growth.”

As Mr. Bessent continues through the confirmation process, DCUC has extended an invitation to meet and discuss these critical issues further.

“We look forward to working with the new administration, new nominees, and we also look with anticipation for nominees for the other agencies that help regulate credit unions, particularly at center that would be the nominees for the director of the CFPB,” stated Stverak. “Moving forward, we hope that the incoming administration nominees will embrace a regulatory ethos that leans on rolling back needless regulations that are only serving to cost credit unions resources needlessly, resources they need to support and serve their members. As more nominees come out, we are going to make sure that we're at the front of the line, knocking on the door, making sure that credit unions are not an afterthought as new policies are enacted for the next four years.”

For more information or questions related to DCUC’s advocacy priorities, please contact Jason Stverak, DCUC Chief Advocacy Officer, at jstverak@dcuc.org and visit www.dcuc.org/advocacy.

Read the letter here.