WASHINGTON, DC (June 23, 2026) |
Ahead of the Senate Banking, Housing, and Urban Affairs Committee hearing, "The Affordability Agenda: Addressing the Cost-of-Living Crisis Facing American Families," the Defense Credit Union Council (DCUC) submitted a letter urging lawmakers to consider bipartisan, market-based policies that expand access to affordable financial services, strengthen consumer choice, and improve economic opportunity.
On behalf of DCUC, Chief Advocacy Officer Jason Stverak shared how credit unions play a critical role in helping military families, veterans, and communities navigate rising housing costs, inflation, and other financial pressures through affordable lending, financial counseling, and personalized service. Stverak encouraged the Committee to advance several longstanding credit union priorities, including the Veterans Member Business Loan Act (VMBLA), modernization of field-of-membership authorities, and policies that expand access to affordable housing finance.
DCUC’s recommendations also guided that lawmakers should remove outdated statutory barriers that limit credit unions' ability to meet the evolving needs of consumers while preserving a competitive financial marketplace:
"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’s letter continued, stating:
“Credit unions are uniquely positioned to help meet these challenges. As member-owned, not for-profit financial cooperatives, credit unions return earnings directly to members through lower loan rates, reduced fees, higher savings yields, and personalized service. Unlike shareholder-
driven institutions, credit unions exist solely to serve their members and communities. However, outdated statutory restrictions continue to limit the ability of credit unions to fully meet the affordability needs of consumers.”
DCUC urged both Committee leaders to support the recommendations as they do not rely on new federal spending or government intervention but leverage existing, community-focused financial institutions that have a proven record of delivering value to consumers.
“Expanding access to credit unions and empowering them to better serve veteran entrepreneurs are practical, bipartisan, market-based solutions that can help address affordability challenges facing American families today.”