WASHINGTON, D.C (August 7, 2025) |
The Defense Credit Union Council (DCUC) has issued a statement today commending President Trump’s new Executive Order, “Guaranteeing Free and Fair Banking for All Americans,” calling it a landmark move to end politically motivated financial discrimination.
“This decisive action sends an unmistakable message: in America, access to banking must be based on merit and law—not ideology,” says Anthony Hernandez, DCUC President/CEO. “We applaud the President’s leadership in targeting unlawful and politicized ‘debanking’ practices that have no place in our financial system.”
DCUC’s letter to the White House affirms strong alignment with the Executive Order’s objectives and highlights the real-world impact of unfair account closures—particularly on small businesses, entrepreneurs, veterans, and military families.
“No law-abiding American or legitimate business should be shut out of the financial system because of bias or political pressure,” adds Jason Stverak, DCUC Chief Advocacy Officer. “This Order confronts that growing threat head-on. It’s a bold step, and it’s the right one.”
A Wake-Up Call on “Debanking”
In recent years, banks have quietly terminated accounts based on vague risk models or ideological leanings—without transparency or due process. These actions disproportionately affect underserved communities, including our Nation’s military and veteran populations.
“Debanking threatens the financial stability of the very people we’re supposed to uplift—veterans, military families, and low-income Americans,” says Hernandez. “Credit unions have been the safety net, stepping in when big banks walked away.”
Credit Unions: A Proven Model of Inclusion
DCUC highlighted that credit unions have long upheld the values now formalized in the Executive Order. With operations on military installations around the world, credit unions have repeatedly been the ones to step in and serve these communities that other institutions often overlook.
From providing banking services during government shutdowns to launching programs like the Veterans Benefits Banking Program (VBBP)—which offers free checking and financial counseling to unbanked veterans—DCUC member credit unions have consistently led in providing apolitical, inclusive, and mission-driven service.
“Credit unions don’t shut the door on people. We meet them where they are,” Stverak reminded. “Whether it’s a military spouse abroad or a veteran in a rural town, we make sure they have access to the financial tools they need.”
DCUC expressed its readiness to collaborate with the Administration, regulators, and Congress to ensure effective, balanced implementation of the Order.