WASHINGTON, D.C (June 4, 2025) |
As the Senate reconvened this week, the Defense Credit Union Council (DCUC) led a high-level strategy session convening credit union industry leaders and advocates across the country.
With the Reconciliation Bill now moving into the Senate’s hands, the meeting’s objective was clear: coordinate a united response to protect the credit union tax status and other industry priorities while amplifying the voice of credit unions serving America’s communities and Main Street America.
“We are not out of the woods yet,” said Anthony Hernandez, DCUC President/CEO. “It’s critical that our industry presents a unified voice and consistent messaging during this pivotal time.”
Today’s meeting provided:
- Strategic guidance and real-time updates on the Reconciliation Bill’s progression. • Tailored messaging and grassroots advocacy tools to mobilize system partners and credit union members
- Key briefings on the legislative landscape and expected pressure points in the Senate Key issues discussed included:
Reconciliation Bill & Tax Status
Participants reviewed DCUC’s updates on the evolving dynamics in the Senate Finance Committee—including recent developments in a meeting with President Trump. While the House version preserves the credit union tax exemption, the Senate may seek offsets as it reconciles spending thresholds.
“Credit unions are just a drop in the bucket at $3.1 billion,” John McKechnie, DCUC Advocacy Consultant noted, “but if the Senate starts looking at all the drops, this argument may lose weight.”
Countering Bankers Attacks & Misguided Rhetoric/Communication Strategy
Despite recent media activity—including an ICBA segment on Squawkbox—there has been no national, coordinated message highlighting the credit union difference. DCUC has stressed the need for proactive, high-visibility storytelling and grassroots pressure.
DCUC is coordinating a National PR campaign to pitch the credit union story to national media outlets and noted the importance of a “round table” communication approach—where multiple industry spokespeople amplify the message across media channels. DCUC also suggested that trade press op-eds should also be repurposed for policymaker outreach.
National Defense Authorization Act (NDAA)
DCUC has developed tailored talking points to keep harmful amendments like the Credit Card Competition Act (CCCA) out of the NDAA, listing the risks to disadvantaged communities and those serving in uniform.
Interchange/CCCA & Proposed 10% Rate Cap (Hawley-Sanders)
DCUC urged all attendees to help lawmakers understand how these proposals could destabilize the financial system and harm low-income borrowers.
GENIUS Act
Currently in Senate debate, the GENIUS Act has been the subject of heated internal discussions, with Sen. Marshall pushing to attach the CCCA as an amendment. While that attempt may have failed in the short term, the fight is expected to shift to future legislative vehicles, including the NDAA and the Farm Bill.
Ongoing & Upcoming Efforts
- New Joint Letter to the Senate from DCUC and trade partners (expected this week) • Customizable advocacy letters and messaging templates distributed to attendees for immediate use
- Updated stakeholder handouts for early outreach before the next NDAA markup • Regional media coordination (e.g., Members 1st and Hanscom FCU) with a focus on credit union impact stories—homeownership, veteran support, small business success. “We need to harmonize our voice and strengthen our momentum,” said Hernandez during the meeting. “We need to keep telling stories that show the real value of credit unions in people’s lives.”
Throughout the session, unity and urgency were consistent themes.
“Now is not the time for anyone to take a victory lap,” says Hernandez. “The long campaign continues as we move to the Senate and start all over. DCUC called this meeting to update fellow industry leaders and to organize a similar, coordinated campaign in the Senate. Sometimes, all it takes is someone to make the first move—others will reciprocate. That’s not showboating; it’s leadership. Let’s win this thing—together.”
As DCUC shifts into sprint mode, we remain steadfast in our industry’s shared focus: protecting the credit union tax exemption, opposing harmful interchange legislation, and ensuring credit unions have the tools and voice they need in the halls of Congress.