Sometimes Congress actually gets things done. Wild, right?
The Defense Credit Union Council (DCUC) is breaking out the celebratory coffee this week after the House and Senate hammered out a deal on the 21st Century ROAD to Housing Act—a piece of legislation that could make a real difference for Americans trying to navigate today’s brutal housing market.
“This is exactly the kind of housing legislation we need right now,” says Anthony Hernandez, DCUC President and CEO (and retired U.S. Air Force Colonel). “It’s not just about opening doors to homeownership—though it absolutely does that. It also includes some much-needed reforms to VA home loan benefits that’ll directly help military families build financial security.”
Here’s what makes this bill worth paying attention to: it tackles housing affordability from multiple angles, which is crucial when you consider that homeownership feels increasingly out of reach for millions of Americans. For military communities especially, these reforms could be game-changing.
But there’s another win baked into this legislation that the DCUC is particularly excited about—Credit Union Board Modernization language. Think of it as updating credit union governance for the 21st century (hence the bill’s name, presumably). This has been on the DCUC’s wish list for years, and it brings oversight practices in line with how modern credit unions actually operate, without sacrificing accountability.
“Credit unions have always been about helping people achieve financial goals, and homeownership sits right at the top of that list,” explains Jason Stverak, DCUC Chief Advocacy Officer. “This bill gives credit unions better tools to serve their members while also leveling the playing field across the financial services industry.”
The DCUC isn’t popping champagne and calling it a day, though. They’re already looking ahead to continued collaboration with Congress on policies that let credit unions adapt to their members’ evolving needs—because in today’s economic climate, standing still isn’t an option.
Bottom line? This bipartisan agreement represents meaningful progress on one of the biggest challenges facing American families today. And in an era when congressional agreements feel about as common as unicorn sightings, that’s worth acknowledging.
Related:
Credit Unions Just Got a Win in New Housing Bill—But They’re Not Done Yet
Roundtable: Credit Unions Face Shifting DC Advocacy Landscape