WASHINGTON– The Defense Credit Union Council (DCUC) has issued a statement in support of Sen. Ted Budd's (R-NC) proposed legislation, "Secure Payments Act of 2024.”
The legislation would require the Board of Governors of the Federal Reserve System to study the impacts of the Fed’s proposed rule on debit card interchange fees and routing, and for other purposes.
“It’s important that credit unions are provided with accessible financial resources, especially in underserved communities nationwide. Recent months have highlighted how limitations on debit interchange fees impact these resources, and consequentially, consumers' financial security,” said Jason Stverak, DCUC chief advocacy officer. “DCUC fully supports Sen. Budd’s call for a study of the interchange fee cap because of these reasons.”
Andrews FCU Branch in Belgium Honored
Separately, in Brussels, Belgium, Andrews FCU’s facility at USAG Benelux has been selected by the Department of the Army as the 2023 Army Distinguished Credit Union of the Year.
A total of 24 packets (six banks and 18 credit unions) were received and carefully reviewed by the United States Army Financial Management Command, Department of the U.S. Army, for consideration, according to the Defense Credit Union Council.
“DCUC is proud to congratulate Andrew’s Federal Credit Union, and its overseas branch at USAG Benelux, for being recognized as the Army Credit Union of the Year,” Anthony Hernandez, DCUC president/CEO, said in a statement. “Andrews Federal Credit Union is more than deserving of this prestigious award for their unwavering dedication and exceptional service to our overseas military and veteran members.”
How Process Works
DCUC noted that each year the United States Army Financial Management Command requests nominations for the Army’s 2023 Distinguished Bank and Credit Union Service Awards. Since 1984, commanders have nominated their installation banks and credit unions on an annual basis. These awards recognize the on-post bank and credit union branches that have provided exceptional financial service and support to their communities.
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