WASHINGTON, D.C (June 24, 2025) |
The Defense Credit Union Council (DCUC) has engaged Congress to support two critical legislative efforts, empowering veteran entrepreneurship with H.R. 507, and balancing digital asset regulation.
Ahead of the June 24 hearing, “Empowering Veterans Through Entrepreneurship,” DCUC sent a letter to the House Committee on Veterans’ Affairs urging swift passage of the Veterans Member Business Loan Act (H.R. 507).
DCUC’s letter highlighted how the bill eliminates the outdated 12.25% cap on member business loans when made to veterans or service members and enables credit unions to provide more affordable, mission-aligned financing—without taxpayer cost—to veteran-owned startups.
“We continue to share how veterans are denied at higher rates than non-veterans, yet they rely on credit unions for trusted financial support,” said Jason Stverak, DCUC Chief Advocacy Officer. “This legislation would not only increase access to capital, job creation, equitable treatment, but strengthened military readiness through successful transitions to civilian life.”
DCUC urges the House to advance this bipartisan, no-cost legislation that honors veterans’ service by supporting their business ambitions.
Additionally, DCUC submitted new testimony to the Senate Banking, Housing, and Urban Affairs’ Subcommittee on Digital Assets ahead of the June 24 hearing, “Exploring Bipartisan Legislative Frameworks for Digital Asset Market Structure.”
DCUC outlined key priorities, such as:
• Stablecoin clarity – Support for clear regulatory definitions and the bipartisan GENIUS Act to establish safety, transparency, and reserve standards.
- Consumer protection – Robust KYC/AML safeguards to shield military families—often targeted by scams—from digital asset fraud.
- Regulatory parity – Empower NCUA to oversee credit union digital asset services, ensuring equal opportunity in innovation.
- Institutional inclusion – Allow credit unions and CUSOs to issue stablecoins, custody digital assets, and participate in emerging crypto infrastructure under tailored rules.
“Equitable digital asset frameworks will enable credit unions to offer secure, inclusive, and innovative financial services—without stifling competition,” adds Stverak.
“We are committed to advancing measures that lift veteran entrepreneurs and ensure credit unions can responsibly innovate in digital assets. Both H.R. 507 and a balanced digital framework reflect our shared mission with our member credit unions: serving those who serve our country,” says Anthony Hernandez, DCUC President/CEO.