WASHINGTON, DC (December 4, 2025) |
Today, the Defense Credit Union Council, DCUC, sent a letter to Senate Majority Leader John Thune and Minority Leader Chuck Schumer urging swift passage of S. 522, the Credit Union Board Modernization Act, before the Senate adjourns for the year.
“For credit unions serving our nation’s military, flexibility isn’t a convenience—it’s a necessity,” said Anthony Hernandez, DCUC President/CEO. “The current monthly meeting mandate does not reflect the realities of deployments, relocations, and global operations. S. 522 will help defense credit unions better serve service members and their families by allowing us to devote more energy to improving financial readiness.”
DCUC voiced that the bipartisan bill, introduced by Senator Bill Hagerty (R-TN) and Senator Lisa Blunt Rochester (D-DE), has broad support across the credit union system, including backing from every major credit union trade association and dozens of Senate cosponsors. DCUC’s letter explained that the legislation would provide meaningful regulatory relief to credit unions serving over 144 million Americans, including millions of military families.
“We respectfully request that you place S. 522 on the Senate’s hotline for unanimous consent passage or otherwise schedule it for immediate floor consideration under a unanimous consent agreement. Given the bill’s strong bipartisan backing, we are confident that if brought up in the Senate it would pass without objection,” DCUC’s letter stated. “By moving this bill now, Senate leadership would demonstrate a laudable commitment to bipartisan regulatory relief that helps community-based financial institutions and their members.”
The Credit Union Board Modernization Act would update a 1930s-era requirement mandating that credit union boards meet monthly. Under S. 522, well-managed federal credit unions could meet at least six times per year, while newly chartered or higher-risk credit unions would continue meeting monthly. This tailored approach preserves strong oversight while freeing resources for member service.
DCUC’s letter notes that monthly meeting requirements disproportionately strain small, rural, and defense credit unions, many of which rely on volunteer board members who balance deployments, travel, and professional obligations. The bill would allow credit unions to redirect time and resources from procedural compliance to serving members, expanding financial education, and supporting military financial readiness.
“This is a targeted, bipartisan fix that strengthens governance efficiency without compromising safety and soundness,” says Jason Stverak, DCUC Chief Advocacy Officer. “It will help credit unions spend less time navigating red tape and more time supporting their communities.”
See more of DCUC’s leading advocacy on the Credit Union Board Modernization Act here.