By Jason Stverak
Congress has taken an important step toward addressing America’s housing challenges through the advancement of the Housing for the 21st Century Act. But progress alone is not enough. The House and Senate must now take the critical next step: convene a formal conference committee, reconcile their differences, and produce a final bill that can be sent to the President’s desk.
Too often, major legislation stalls between chambers caught in the gap between competing priorities, procedural delays, or shifting political dynamics. Housing is too important, and the stakes are too high, to allow that to happen here.
For credit unions serving military communities, this legislation is not an abstract policy debate. It directly affects servicemembers trying to buy homes near bases, veterans launching small businesses after leaving active duty, and families working to build financial stability in an uncertain economic environment
That is why Congress must not only move to conference, but use that process to include commonsense, bipartisan credit union priorities that will expand access to credit, strengthen financial stability, and support working families.
Move To Conference—And Finish The Work
The House and Senate have each advanced housing legislation with strong bipartisan elements. Now is the moment for leadership, particularly on the U.S. House Financial Services Committee and the U.S. Senate Committee on Banking, Housing, and Urban Affairs to formally appoint conferees and begin negotiations.
A conference committee is not just a procedural step; it is where the real work of legislating happens. It is where priorities are reconciled, compromises are forged, and final policy decisions are made.
Without a conference, there is no final bill. And without a final bill, there is no relief for families struggling with housing affordability.
Congress should act quickly to convene a conference committee and produce a final, bicameral agreement that reflects the best ideas from both chambers, including key credit union provisions that strengthen community-based lending.
Modernizing Credit Union Governance
One such provision is the Credit Union Board Modernization Act (H.R. 975 / S. 522).
Under current law, credit union boards must meet every month regardless of an institution’s size or complexity. This outdated requirement imposes unnecessary administrative burdens on volunteer board members, many of whom are veterans and community leaders.
The modernization proposal would allow well-managed credit unions to meet at least six times per year while maintaining appropriate oversight and stronger requirements for higher-risk institutions.
This is a straightforward reform that improves governance efficiency without compromising safety and soundness.
Supporting Veteran Entrepreneurs
Congress should also include the Veterans Member Business Loan Act (H.R. 507 / S. 110), which would expand access to capital for veteran-owned small businesses.
Today, credit unions are constrained by a statutory cap on business lending. Once that cap is reached, they cannot make additional loans, even to qualified borrowers.
This legislation would exempt loans made to veteran-owned businesses from the cap, allowing credit unions—particularly those serving military communities—to better support veteran entrepreneurs.
If we are serious about supporting those who served, we should ensure they have access to the capital they need to succeed.
Strengthening The Liquidity Safety Net
Another priority is the NCUA Central Liquidity Facility Enhancements Act (S. 2545 / S. 3575), led by Senators Alex Padilla and Kevin Cramer.
The Central Liquidity Facility (CLF) serves as the credit union system’s liquidity backstop, ensuring institutions can continue lending during periods of financial stress.
Congress temporarily strengthened the CLF during the COVID-19 pandemic by allowing corporate credit unions to act as agents for smaller institutions—dramatically expanding access to liquidity.
Those provisions expired in 2022.
Restoring them is a practical step to ensure credit unions can continue providing mortgages, small business loans, and consumer credit during future economic disruptions.
Updating Loan Maturity Limits
Finally, Congress should include the Credit Union Loan Flexibility Act (H.R. 4167 / S. 3616), which would extend loan maturities from 15 years to 20 years.
Current statutory limits do not reflect modern financing realities, particularly for housing and commercial development projects. Extending loan maturities would allow credit unions to better structure loans, reduce borrower payment burdens, and support long-term investment in communities.
For housing in particular, this flexibility can make the difference between a project moving forward or falling apart.
A Bipartisan Path Forward
These reforms are not controversial. They are bipartisan, practical, and aligned with Congress’s broader goal of expanding access to housing and economic opportunity.
Credit unions are not-for-profit financial cooperatives that exist to serve their members—not shareholders. Across the country, they help families purchase homes, refinance mortgages, and navigate financial challenges.
For military families, they are often a lifeline, providing financial services in communities where other institutions may not operate.
Finish The Job
Congress has done the hard work of advancing housing legislation. Now it must finish the job.
That means convening a conference committee without delay, negotiating in good faith, and producing a final bill that can pass both chambers.
And it means ensuring that final bill includes the credit union provisions that will expand access to credit, strengthen financial stability, and support the communities that need it most.
The path forward is clear.
Move to conference. Get a deal. Deliver results.
For millions of American families—including those who serve our country—there is no time to wait.
Jason Stverak is Chief Advocacy Officer at the Defense Credit Union Council.