Where do you turn when your financial situation suddenly changes? For millions of Americans, their local credit union is their trusted financial partner—in good times and bad. And in the midst of a federal government shutdown, hundreds of thousands of impacted federal employees, military members, contractors and their families are now facing economic uncertainty and stress.
Government shutdowns have become unsettlingly routine in recent years, throwing thousands of military families and federal employees into financial limbo. Paychecks are delayed, bills pile up, and uncertainty hangs in the air. But amid the turmoil, one group of institutions consistently answers the call as financial first responders: America’s credit unions.
On October 1, 2025 – the day after Congress missed its deadline to reauthorize the National Flood Insurance Program (NFIP) – federal regulators issued an unusual reminder to banks, credit unions, and other lenders. They confirmed that lenders may continue making mortgage loans on properties in flood zones even while the NFIP is offline.
Since 2012 I haven’t visited a branch. Remote deposit was my gateway, and I’ve handled everything from business accounts to construction loans digitally. Odd twist: my loyalty soared. Digital didn’t replace my relationship; it strengthened it. And yet, as a strategic advisor who lives and breathes the 10XCU approach, I’ll be the first to say: branches still matter. They just matter differently.
Another week, another headline announces a small credit union closing or merging into a larger institution. These announcements aren’t just occasional anymore—they’re becoming a drumbeat, and it’s accelerating.
Recent commentary has claimed that federal credit unions are “cashing in” on a supposed double tax exemption – namely, their federal tax-exempt status and their ability to receive Community Development Financial Institution (CDFI) Fund support. This view mischaracterizes the purpose of credit unions’ tax status and their participation in community development programs.
The credit union system has long prided itself on resilience, cooperation, and community focus. But resilience requires preparation—and the opportunity is before us to strengthen one of our most effective tools for weathering financial stress.
If one word sums up the economy in the second half of 2025, that word would be “precarious”. Granted, the U.S. unemployment rate holds reasonably steady at 4.2%, inflation appears to be cooling (albeit slowly – it’s been very stubborn) and GDP during the second quarter of 2025 was positive at 3% following a -0.5% growth in the first quarter, a result that was significantly warped by anticipation of tariffs coming into play and associated import activity (imports actually factor as negative in terms of GDP).
As Congress considers the FY2026 National Defense Authorization Act (NDAA), a troubling proposal has emerged under the guise of helping veterans. An amendment by Senator Roger Marshall (R-KS) and Senator Dick Durbin (D-IL) calls for a “study” on credit and debit card interchange fees at military commissaries – ostensibly to benefit Medal of Honor recipients, Purple Heart recipients, former POWs, disabled veterans, and their caregivers.
In a stunning about-face, the CFPB quietly dropped a $95-million enforcement order against Navy Federal Credit Union this July – a case it had loudly announced just months earlier.
