WASHINGTON, D.C. (February 5, 2025) |
Today, the Defense Credit Union Council (DCUC) has expressed strong support for the Credit Union Board Modernization Act (H.R. 975), a bipartisan bill introduced by Representatives Juan Vargas (CA-52) and Bill Huizenga (MI-4) to amend the Federal Credit Union Act (FCUA) and provide greater flexibility in the frequency of board of directors’ meetings.
In a letter, DCUC discussed the benefits of this reform for credit unions, particularly those serving military and veteran communities.
DCUC Chief Advocacy Officer Jason Stverak shared how the current statutory requirement for monthly board meetings places an unnecessary operational burden on institutions—especially smaller credit unions and those with geographically dispersed board members. DCUC believes
that by allowing boards to set meeting schedules based on operational needs rather than a rigid mandate, this commonsense reform will promote efficiency while preserving strong governance.
"We commend Representatives Vargas and Huizenga for their leadership in modernizing the Federal Credit Union Act and ensuring credit unions can continue providing critical financial services to their members,” says Stverak. “We expect the full House to pass this legislation on the suspension calendar next week and strongly encourage every member of the house to vote for its passage.”
If approved, DCUC will call on the Senate to swiftly advance the bill, strengthening financial readiness for military communities and enhancing credit unions’ ability to serve them effectively.
For more information, please contact Jason Stverak at jstverak@dcuc.org and visit dcuc.org/advocacy.