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DCUC shares credit unions’ role in financial security amid Congressional debanking hearings 

WASHINGTON, D.C. (February 4, 2025) |

Yesterday, the Defense Credit Union Council (DCUC) sent a letter to  the House Financial Services Committee and Oversight and Investigations Subcommittee  ahead of the hearing, “Operation Choke Point 2.0: The Biden Administration’s Efforts to Put  Crypto in the Crosshairs.” 

DCUC Chief Advocacy Officer Jason Stverak highlighted concerns over debanking, where  financial institutions unfairly restrict or terminate services, disproportionately harming small  businesses, entrepreneurs, military families, and veterans. Stverak shared how credit unions  continue to offer financial access and stability, unlike large for-profit banks driven by corporate  risk models. 

DCUC’s letter outlined to Congressional leaders how credit unions, as member-owned,  community-focused institutions, protect their members against debanking, including: 

  • Promoting financial inclusion for underserved communities, including veterans and small  businesses. 
  • Offering fair, transparent banking without arbitrary service terminations. Supporting military families as big banks withdraw from installations or bases. Providing capital to small businesses often denied by larger institutions. 

In support of the letter, Stverak shared DCUC’s recent CU Today article further detailing how  credit unions serve as a financial safety net, prioritizing relationships over risk modeling.  

DCUC urges Congress to support policies that empower credit unions to continue offering fair  and inclusive financial services without being pressured into harmful de-risking behaviors. 

DCUC will continue to emphasize the essential role credit unions play in financial inclusion and  urge Congressional leaders to recognize their contributions to the public good. 

For more information, please contact Jason Stverak at jstverak@dcuc.org and visit  dcuc.org/advocacy.

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