Banks, credit union fighting again over free rent on military bases
A source tells CU Times that the new defense bill will allow banks to receive the same rent-free perks as CUs on military bases.
The battle between bank and credit union access to military bases has flared once again, as both sides said they expect Rep. Trent Kelly (R-Miss.) to offer an amendment to the annual defense authorization bill to give banks the free rent benefit that credit unions now enjoy.
The House Armed Services Committee will begin its markup of the defense bill on Wednesday. Banking and credit union sources said at that time, they expect Kelly, a member of the committee, to introduce his amendment, although a Kelly aide did not respond to a request for comment.
“We expected this,” Anthony Hernandez, president/CEO of the Defense Credit Union Council said Tuesday.
Credit unions now are given rent-free space on military bases, while banks must pay rent. The two sides have been battling for several years on the issue and past attempts at a compromise have failed.
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