WASHINGTON--The Defense Credit Union Council Tuesday sent multiple letters to Congress advocating for key financial reforms to support small businesses, military communities, and Native American communities, the trade group reported.
In a letter to the House Small Business Committee, DCUC urged policymakers to include credit unions in SBA lending programs, highlighting their role in serving underserved areas. DCUC has advocated for the Veterans Member Business Loan Act (VMBLA) to exempt veteran-owned businesses from restrictive lending caps, expanding their access to capital.
In a letter to the House Financial Services Committee, the trade group addressed over-regulation, tax policy threats, and lending restrictions affecting defense credit unions. DCUC called for maintaining the federal credit union tax-exemption, opposing proposed interchange legislation that restricts credit access, and supporting legislation like the VMBLA and Military Financial Services Protection Act to enhance financial access for veterans, service members and their families.
And in a letter to the Senate Indian Affairs Committee, DCUC emphasized the financial challenges faced by Native American communities, particularly in banking deserts. DCUC advocated for policies that expand credit union services to combat financial exclusion, predatory lending, and economic disparities.
In all of the letters, DCUC pushed for regulatory reform and the need for expanding access to financial services and support for underserved communities.