WASHINGTON, DC (December 16, 2025) |
The Defense Credit Union Council, DCUC, sent a letter to the Senate Banking Subcommittee leaders, Chairman Thom Tillis and Ranking Member Catherine Cortez Masto, urging attention to the harmful practice of “debanking” and its disproportionate impact on military communities and credit union members.
As the Senate Subcommittee on Financial Institutions and Consumer Protection prepares for the hearing titled “Ensuring Fair Access to Banking: Policy Levers and Legislative Solutions,” DCUC highlighted the critical role of credit unions in safeguarding financial inclusion for service members, veterans, and their families.
“Debanking threatens the financial stability of the very people we are committed to serve, veterans, military families, and small businesses,” says Jason Stverak, DCUC Chief Advocacy Officer. “Unlike large banks driven by profit models, credit unions are community-focused and work closely with members to provide fair, personalized banking services.”
DCUC called on Congress to expand credit union field-of-membership rules to allow greater flexibility in serving underserved areas and populations, especially where traditional banks have withdrawn services.
“Expanding credit unions’ ability to serve ‘banking deserts’ and vulnerable communities is an immediate, commonsense step to restore financial access where it has been unjustly denied,” Stverak adds.
DCUC also voiced strong support for legislative efforts to prohibit politicized debanking and urged regulators to ensure credit unions remain a safe haven for those unfairly excluded by mainstream banks.
“Credit unions stand ready to be financial first responders when communities are left behind,” Anthony Hernandez, DCUC President/CEO reminds. “We look forward to working with lawmakers to guarantee free and fair banking for all Americans.”