WASHINGTON, D.C (May 13, 2025) |
The Defense Credit Union Council (DCUC) has called on the Senate Committee on Small Business & Entrepreneurship to support the Veterans Member Business Loan Act (VMBLA), bipartisan legislation that would exempt loans to veteran-owned businesses from the federal credit union’s 12.25% member business lending cap.
“Veteran entrepreneurs operate 1.76 million businesses employing over 5 million Americans and generating nearly $1 trillion in annual revenue,” says Jason Stverak, DCUC Chief Advocacy Officer. “Despite this, too many still lack access to affordable capital due to arbitrary lending limits. The VMBLA removes that barrier at no cost to taxpayers and allows credit unions to provide additional capital to veterans and fuel job creation on Main Street while strengthening America’s manufacturing base.”
“Credit unions are mission-driven institutions deeply embedded in military communities,” says DCUC President/CEO Anthony Hernandez. “Exempting veteran loans from the cap recognizes their unique contributions and ensures these financial cooperatives can support those who served.”
DCUC stands ready to work with Senator Ernst, Senator Markey, and the Committee to advance the VMBLA as a cornerstone to strengthening America’s small-business resurgence.
For more information, see DCUC’s video on the importance of supporting the VMBLA and contact Jason Stverak at jstverak@dcuc.org and visit dcuc.org/advocacy.