Advocacy takes priority at Defense Matters
WASHINGTON, DC (March 3, 2020) — The Defense Credit Union Council (DCUC) hosted its 2020 Defense Matters in Washington, DC., on February 23, 2020, prior to the start of CUNA’s GAC. This year’s meeting focused on Advocacy Priorities that affect our servicemembers and veterans. Anthony Hernandez, President & CEO, DCUC, identified the top 3 Advocacy priorities for 2020: FY21 National Defense Authorization Act, H.R. 2305 – Veteran Business Lending Exemption, and H.R. 5050 – Veterans and Consumers Fair Credit Act.
Several guest speakers participated in the forum including The Honorable Todd M. Harper, Board Member, National Credit Union Administration (NCUA). While addressing attendees, Harper identified capital and liquidity; cybersecurity; and diversity, equity and economic inclusion as 2020 priorities. As the world changes and evolves, NCUA recognizes the need to ensure that they focus on safety and soundness and consumer financial protection, embrace diversity , and appropriately engaging with stakeholders to ensure effective and efficient regulation.
Jim Rice, Assistant Director, Office of Servicemember Affairs, Consumer Financial Protection Bureau (CFPB) provided an informative brief about military consumer complaints and the importance of advocating for financial literacy. The CFPB introduced the Misadventures in Money Management (MiMM) initiative that allows servicemembers to simulate different life choices though a virtual learning experience. This initiative trains servicemembers on how to navigate future financial landmines in a risk free and interactive way.
Additional highlights from Defense Matters included the introduction of the Armed Forces Financial Guide: Mapping the Military Lifecyle. The guide provides resources for the entire military lifestyle under one cover. It features leave and earning statements, service related and special benefits, PCS moves, healthcare and insurance, retirement plans, transition and separation, and more. This guide assists servicemembers and their families with money management and financial planning through each stage of the military lifecycle from enlistment and promotion to separation or retirement. The financial guide was written by experts at the United States Military Academy and was co-sponsored by DCUC.
DCUC also debuted a video highlighting the Defense Credit Union (DCU) difference and why DCUs do what they do to serve our military and veterans. Military life is like no other, and our servicemembers put down roots in communities around the world. Our DCUs understand the challenges of military life and recognize military life is still real life, real people, who get married, buy homes, have children, and retire. DCUs, through their mission of Serving Those Who Serve Our Country, help servicemembers and veterans achieve the American Dream. It’s about life, family, and community, and DCUC and its member credit unions are here to serve.
About Defense Credit Union Council
The Defense Credit Union Council is a trade association representing the interests of federally and state-chartered credit unions serving our military around the globe. By maintaining a close and constant liaison with the Pentagon, the Council supports its member credit unions and the Department of Defense (DOD) in coordinating policy, procedures, and legislation impacting morale and welfare, financial readiness, and the delivery of quality financial products and services to DOD personnel and their families. Organized in 1963, the Council’s membership is comprised of 180 credit unions with over 25 million members.