QUANTICO, Va.—During a visit to Quantico Marine Corps Base today, Vice President J.D. Vance recounted a personal story about how the Marines helped him avoid "one of the worst financial decisions" and guided him toward Navy Federal Credit Union for assistance.
“I was going to buy a used Honda Civic at one of those used car dealerships, and the dealership was kind enough to offer me the low, low interest rate of 21% to buy that used car,” said Vance. “And it was a Marine Corps gunnery sergeant, Gunny Arledge, who said, ‘You know what? Why don't you stop being an idiot? Go to Navy Federal Credit Union and get a better deal. And Gunny Arledge saved me from making a terrible mistake.”
Defense Credit Union Council Chief Advocacy Officer Jason Stverak said Vice President Vance’s story of being targeted by a predatory car loan is a stark reminder that our military heroes face threats even off the battlefield.
“It makes my blood boil that those who protect us can be preyed upon by unscrupulous lenders the moment they step off base,” Stverak told CUToday.info. “Our message is clear: we will not stand by while those who protect us are left unprotected from predatory lenders. That’s why defense credit unions are more crucial than ever – we stand as a shield for service members, veterans and their families offering fair, transparent, and responsible financial alternatives when others seek to exploit them.
“We owe it to our men and women in uniform to safeguard them from financial predators with the same passion and urgency that they defend our nation. Every soldier, sailor, airman, and Marine deserves a banking partner they can trust, and defense credit unions are committed to being that trustworthy lifeline,” added Stverak.
America's Credit Unions President/CEO Jim Nussle thanked Vance for recognizing the important role that credit unions play in so many people's lives.
“And especially in those of our military men and women,” Nussle said. “Credit unions across the country serve more than 140 million Americans and are passionate about building their financial confidence and stability.
“Their not-for-profit status allows them to offer those better rates, provide options to people who may not have strong credit, and be a trusted partner at life's most critical moments,” continued Nussle. “We look forward to continuing to share the credit union difference with the Trump Administration and working to ensure all Americans can experience what it means to be a credit union member, just like Vice President Vance."