DCUC To Congress: Strengthen Final Housing Bill With Critical Credit Union Reforms
By CU Today Staff —
WASHINGTON--Following the recent Senate passage of the H.R.6644 - 21st Century ROAD to Housing Act, the Defense Credit Union Council sent a letter to leaders of the House Financial Services Committee and Senate Banking Committee urging for the legislation to quickly move to a conference committee.
DCUC encouraged that the final package include several bipartisan credit union provisions that would further strengthen access to credit, improve financial stability, and support the millions of servicemembers, veterans, and families served by credit unions.
“In many military and rural communities, credit unions are the primary financial institutions helping families purchase homes, start small businesses, and build financial stability,” DCUC wrote. “As Congress works to finalize this important housing legislation, the conference process presents an opportunity to incorporate several commonsense reforms that will strengthen community-based lending and enhance financial resilience. DCUC respectfully urges inclusion of the following bipartisan credit union priorities.”
DCUC President/CEO Anthony Hernandez emphasized the importance of ensuring credit unions are included as Congress finalizes the legislation.
"Credit unions continue to serve an integral role in supporting financial stability for many communities across the country," Hernandez stated. "As Congress works to finalize this housing package, we have a real opportunity to strengthen community lending and remove outdated barriers that limit how credit unions can serve their members. Including these bipartisan reforms will expand responsible access to credit while reinforcing the financial resilience of the communities that depend on credit unions every day.”
DCUC Chief Advocacy Officer Jason Stverak urged lawmakers to include several key bipartisan reforms in the final legislation, including:
Stverak noted that including these reforms in the final Housing for the 21st Century Act would strengthen community-based lending and expand responsible credit access for families across the country who rely on credit unions.
Originally reported by CU Today.