WASHINGTON, DC (June 8, 2026) |
The Defense Credit Union Council (DCUC) today applauded the National Credit Union Administration (NCUA) for finalizing its Dependent Care and Board Member Reimbursement rule, a regulatory modernization that removes barriers to volunteer service and strengthens credit union governance:
“The NCUA Board amended its regulations concerning the reimbursement of reasonable expenses for federal credit union officials to remove potential barriers to volunteer service. This final rule provides flexibility for a federal credit union’s board to adopt more family-friendly policies tailored to its size, region, and operations. Previously, dependent care costs had not been considered reasonable expenses under NCUA regulation 12 C.F.R. 701.33. The final rule applies to all federal credit unions, including corporate federal credit unions. It will not apply to federally insured, state-chartered credit unions, which remain subject to state law.”
On March 27, DCUC submitted a formal comment letter supporting the proposal and urging its adoption. DCUC previously noted that attracting and retaining highly qualified board members is essential to the long-term success, safety, and soundness of the credit union system, and the proposal appropriately preserved local governance by allowing each federal credit union board to determine whether and how to implement dependent care reimbursement policies based on the unique needs of its institution and membership.
"DCUC commends the NCUA for finalizing this important rule and recognizing the need to modernize regulations to better reflect the realities facing today's volunteer officials," said Jason Stverak, DCUC Chief Advocacy Officer. "By providing federal credit unions with greater flexibility to reimburse reasonable dependent care expenses, the NCUA is helping ensure that qualified volunteers from diverse backgrounds can serve on credit union boards without facing unnecessary financial obstacles. DCUC appreciates the agency's thoughtful consideration of stakeholder feedback and its commitment to policies that support strong, effective leadership within the credit union system."
"This is a practical, common-sense regulatory improvement that expands opportunities for service while respecting the autonomy of individual credit unions," says Anthony Hernandez, DCUC President/CEO, Ret. U.S. Air Force Colonel. "Volunteer board members dedicate significant time and expertise to serving their institutions and communities. Removing unnecessary barriers to participation helps ensure credit unions can continue attracting talented leaders who reflect the diverse needs of the members they serve."
DCUC remains committed to working with NCUA and policymakers to advance regulatory reforms that strengthen governance, improve operational flexibility, and support the continued success of credit unions serving military members, veterans, their families, and communities across the country.