WASHINGTON—The Defense Credit Union Council Wednesday convened another industry-wide strategy meeting, updating system partners and fellow advocates on recent advocacy efforts across five priorities:
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Protecting the credit union tax status amid ongoing budget reconciliation talks
- Blocking harmful amendments like the Credit Card Competition Act (CCCA) from the NDAA and other must-pass bills
- Advocating for balanced, uniform data privacy legislation ahead of the June 5 Senate hearing
- Ensuring credit unions can innovate without regulatory overreach
- Expanding access to SBA loans for veteran-owned small businesses
DCUC emphasized the meeting was held to again rally all credit union stakeholders to develop joint messages to address the tax threat and other pieces of legislation that could impact credit unions.
“While efforts to attach CCCA to the GENIUS Act have stalled for now, we’re seeing clear signs the fight will shift to other legislative fronts,” said Jason Stverak, DCUC Chief Advocacy Officer. “Senator Marshall is now setting his sights on the NDAA and likely the Farm Bill. We cannot afford to be reactive—we must be ready and united. Early opposition never hurts."
“Now is not the time for anyone to take a victory lap,” said Anthony Hernandez, DCUC president/CEO. “The long campaign continues as we move to the Senate and start all over. DCUC called this meeting to update fellow industry leaders and to organize a similar, coordinated campaign in the Senate. Sometimes, all it takes is someone to make the first move—others will reciprocate. That’s not showboating; it’s leadership. Let’s win this thing—together.”
Earlier this year Hernandez urged the credit union industry to unite in its effort to fight the threat to the CU tax exemption.
Letters To Congress
Separately, DCUC recently sent several letters to Congress, which can be viewed here.