Expansion of “qualified charity” to veterans organizations
Earlier this year, DCUC and the National Association of Federally-Insured Credit Unions (NAFCU) sent a joint letter to the NCUA Board.
In the letter, we asked the NCUA to amend the definition of “qualified charity” as it relates to Charitable Donation Accounts (CDAs) in Part 721.3 of NCUA regulations to include 501(c)(19) veterans’ organizations. Today, our efforts were a great success!
The NCUA’s decision to grant this revision will not only lessen previous restrictions defense credit unions faced when contributing to veterans’ organizations, but will also provide all credit unions with more opportunity to better serve their veteran members and communities!
DCUC will continue working with each of you alongside other veteran service organizations when advocating for the financial prosperity of our Nation’s veterans.
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