DCUC This Week Launches Full-Court Press On Capitol Hill, Treasury And NCUA
By CU Today Staff —
WASHINGTON--The Defense Credit Union Council is weighing in on a series of congressional hearings, nominations and policy debates this week, urging lawmakers and federal agencies to prioritize military financial readiness, preserve credit union access and advance regulatory reforms it says would strengthen service to servicemembers, veterans and their families.
The trade group submitted letters to the Senate Armed Services Committee, Senate Banking Committee, House Financial Services Committee and the Treasury Department outlining its positions on issues ranging from defense financial management and payments policy to NCUA governance and CDFI funding.
Among its recommendations, DCUC called for Senate Banking Committee members reviewing NCUA board nominee John Crews to focus on examination consistency, modernization of the CAMELS rating system, preservation of federal preemption, strengthening of the Central Liquidity Facility and continued support for military financial readiness. DCUC also pressed Treasury to ensure timely distribution of CDFI Fund awards, urged lawmakers examining payments policy to maintain a secure and competitive payments ecosystem, and encouraged Congress to advance credit union-backed affordability measures, including the Veterans Member Business Loan Act, field-of-membership modernization and expanded access to affordable housing finance.
Senate Armed Services Committee – Under Secretary of Defense (Comptroller) NominationDCUC provided Senate Armed Services Committee leaders with comments ahead of the confirmation hearing for Jules W. Hurst III, nominee to serve as Under Secretary of Defense (comptroller) and chief financial officer.
In its letter, DCUC encouraged the Committee leaders to examine how the Department of War can further strengthen military financial readiness, noting that financial stress can impact mission effectiveness, force resilience, recruitment, retention, security clearances, and family stability.
“We appreciate the Committee’s continued leadership in supporting servicemembers, families, veterans, and Department of War contractors,” said Anthony Hernandez, DCUC president/CEO, ret. U.S. Air Force Colonel. “We encourage the Committee to also explore how Mr. Hurst and the Department can further strengthen military financial readiness and deepen collaboration with the more than 200 defense credit unions serving military communities around the world."
House Financial Services Committee – Future of Payments HearingPrior to the Committee's hearing on the future of payments, DCUC urged policymakers to preserve a secure, competitive, and reliable national payments system. DCUC's letter highlighted that payments innovation, fraud prevention, cybersecurity, regulatory parity and consumer protection are essential components of a functioning financial system, especially for servicemembers and military families who rely on consistent access to financial services across the nation.
"Payments innovation, access to financial infrastructure, regulatory parity, consumer protection, fraud prevention, and competition are all critical to a safe, reliable, and affordable financial system. For defense credit unions, these issues are not abstract. Our members are mobile, frequently cross state lines, deploy overseas, relocate under military orders, and depend on secure, consistent, and accessible payment services wherever duty or life takes them,” wrote Jason Stverak, DCUC chief advocacy officer.
“Credit unions play a foundational role in maintaining trust in the payments system,” said Hernandez. “They invest in cybersecurity, absorb fraud losses, support secure digital banking platforms, and ensure members are protected when something goes wrong. As Congress evaluates the future of payments, it is critical that policy decisions strengthen the institutions that deliver that trust every day to their members and communities.”
Senate Banking Committee – NCUA Board NominationOn Monday, DCUC provided comments to Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Scott and Ranking Member Elizabeth Warren expressing support for the nomination of John Crews to serve on the NCUA board. In the letter, DCUC also highlighted key policy priorities for the Committee's consideration during the confirmation process.
As part of the recommendations, Stverak reminded that effective regulation depends on transparency, stakeholder engagement, and a willingness to consider diverse viewpoints. While recognizing that policy disagreements may arise, DCUC expressed confidence in Crews' commitment to thoughtful engagement and encouraged the Committee to examine his views on issues that will shape the future of the credit union system.
Among the priorities raised, DCUC called for:
DCUC also encouraged discussion on:
U.S. Department of the Treasury – CDFI Fund AdministrationTuesday, Hernandez wrote to Treasury Secretary Scott Bessent expressing concern over reported delays and uncertainty surrounding Community Development Financial Institution (CDFI) Fund awards and disbursements. The correspondence urged timely distribution of appropriated funds, increased transparency, adequate program staffing, and continued support for CDFIs serving military, rural, and underserved communities.
Hernandez noted that while DCUC supports the Treasury Department’s efforts to maintain the integrity and responsible stewardship of the CDFI Fund, uncertainty around award timing and administrative capacity is creating challenges for institutions that rely on these resources to serve underserved and economically distressed communities.
“The CDFI Fund has long enjoyed bipartisan support because of its demonstrated ability to leverage federal resources alongside private capital to expand economic opportunity in communities that traditional financial institutions often struggle to reach,” Hernandez said. “For military communities in particular, these programs can provide critical support to veterans launching small businesses, military spouses seeking economic mobility, first-time homebuyers, and families working to build long-term financial resilience.
“DCUC has consistently supported preserving the full mission of the CDFI Fund while improving program execution and transparency,” continued Hernandez. “We have previously expressed concerns regarding proposals that would significantly reduce funding, eliminate key program functions, or weaken the operational capacity necessary to efficiently administer awards and certifications. We continue to believe that maintaining a strong and effective CDFI Fund is essential to ensuring that underserved communities—including those connected to our nation’s military—have access to affordable and responsible financial services.”
As part of the correspondence, Hernandez requested the Treasury Department:
Senate Banking Committee – Affordability HearingAhead of the Committee's hearing, titled "The Affordability Agenda: Addressing the Cost-of-Living Crisis Facing American Families," DCUC outlined bipartisan, market-based policy solutions that leverage the credit union model to expand affordability and economic opportunity.
DCUC's recommendations include advancing the Veterans Member Business Loan Act, modernizing field-of-membership authorities, expanding access to affordable housing finance, and removing outdated statutory barriers that limit credit unions' ability to serve consumers.
"For military families, veterans, and working Americans, affordability is not simply an economic talking point. It is the reality of whether they can purchase a home, finance a vehicle, launch a small business, save for retirement, or navigate unexpected financial challenges. As inflationary pressures, housing costs, insurance expenses, and everyday living costs continue to strain household budgets, policymakers should examine practical solutions that increase consumer choice, expand competition, and improve access to affordable financial products and services,” DCUC stated.
Originally reported by CU Today.