WASHINGTON, D.C (July 22, 2025) |
Today, the Defense Credit Union Council (DCUC) sent letters to the House Financial Services (HFSC) and Small Business Committee, the first being a comprehensive letter to HFSC leaders detailing its support and recommendations on several financial services bills under consideration.
DCUC’s Chief Advocacy Officer Jason Stverak wrote to the committee’s leaders explaining each bill’s implications for credit unions and the military communities they serve.
DCUC called attention to the need for modernization, smarter regulation, and capital access that benefits servicemembers, veterans, and their families.
Summary of DCUC’s positions and recommendations:
- H.R. 3074 – Common Cents Act: DCUC supports ending the costly production of pennies, citing minimal impact on consumers and benefits to taxpayers.
- H.R. 3390 – Discount Window Modernization: DCUC commends efforts to modernize Federal Reserve emergency lending, recommending interagency collaboration with NCUA to improve credit union liquidity tools.
- H.R. 3446 – FDIC Board Accountability Act: DCUC supports reforms that prioritize community banking experience and term limits, promoting balanced governance even though credit unions are regulated by NCUA.
- H.R. 3673 – Small Business Investor Capital Access Act; H.R. 4429 – DEAL Act; H.R. 4430 – Expanding WKSI Eligibility Act; H.R. 4431 – ICAN Act; H.R. 4449 – Advocating for Small Business Act: DCUC supports each of these bills as they expand capital access for startups and small businesses and as key drivers for local economic development; would serve as tools that benefit military entrepreneurs and underserved communities:
- H.R. 4437 – SMART Act; H.R. 4478 – TRUST Act; H.R. 4460 – SAFE Act: Regulatory Clarity and Right-Sizing: DCUC strongly supports these bills, which would reduce regulatory burden on well-run community institutions and restore clarity around guidance:
- H.R. 4544 – American Access to Banking Act: DCUC supports this bill’s emphasis on easing chartering of new credit unions and banks, particularly in underserved areas.
- Committee Resolution – Task Force on Monetary Policy: DCUC supports reestablishing this bipartisan Task Force to promote dialogue and oversight of economic trends.
In addition to its comments to the Financial Services Committee, DCUC also wrote to the House Small Business Committee ahead of the upcoming hearing, “American Resilience: Examining SBA Disaster Assistance Programs.” DCUC highlighted how credit unions, as not-for-profit, member-owned institutions, are often the first financial responders in disaster-stricken areas – and they remain long after headlines fade.
DCUC cited examples including Tyndall FCU’s direct relief efforts after Hurricane Michael, Puerto Rico’s cooperativas reopening within 48 hours of Hurricane Maria, and credit union responses to wildfires in Washington, Hawaii, and California.
DCUC also noted how institutions like Navy Federal Credit Union activate automatic disaster relief programs that include expedited cards, deferred payments, and emergency loans – ensuring uninterrupted service for servicemembers and veterans.
Additionally, DCUC’s letter called attention to credit unions serving as vital partners in small business recovery. Stverak shared that during the COVID-19 pandemic, credit unions provided 87% of PPP loans to new borrowers turned away elsewhere, and 70% of those loans went to businesses with five or fewer employees, proving their reach into Main Street America.
DCUC called on Congress and the SBA to:
- Include credit unions as partners in SBA-guaranteed disaster loan programs; • Temporarily lift the member business lending cap during disasters;
- Streamline processes for credit union participation in SBA relief; and
- Leverage credit unions’ local knowledge to reach underserved communities.
“Credit unions serve as lifelines when disaster strikes,” said Jason Stverak. “We hope SBA and Congress will fully utilize the power of credit unions to deliver targeted, timely recovery assistance to the communities and military families credit unions serve.”
DCUC also commended the House Small Business Committee for focusing on improving Small Business Administration (SBA) programs, prioritizing reforms to better support for our Nation’s veteran entrepreneurs, especially in underserved and rural areas.
Highlights from DCUC’s letter included:
- H.R. 2066 – Investing in All of America Act of 2025: DCUC strongly supports this bill to expand the Small Business Investment Company (SBIC) program. It would drive capital into defense-related and rural small businesses, including veteran-led startups.
DCUC suggested prioritizing SBIC investment in veteran- and military spouse–owned businesses.
- Office of Rural Affairs Enhancement Act: DCUC supports formally establishing and enhancing the SBA’s Office of Rural Affairs. DCUC recommended ensuring the inclusion of rural veterans and collaboration with the SBA’s Office of Veterans Business Development and DoD’s Transition Assistance Program.
- H.R. 4495 – SBA Fraud Enforcement Extension Act: DCUC supports extending the statute of limitations for fraud involving pandemic relief programs. DCUC proposed pairing the extension with enhanced enforcement resources and inter-agency coordination.
- H.R. 4491 – SBA IT Modernization Reporting Act: DCUC supports modernizing SBA technology infrastructure to improve access and service reliability. DCUC suggested Congress actively engage community lenders, including credit unions, and emphasize cybersecurity protections for military families.
- H.R. 3174 – Made in America Manufacturing Finance Act of 2025: DCUC strongly supports raising loan caps for SBA-backed manufacturing loans. DCUC called for support in reevaluating credit union business lending caps to enable full participation in higher SBA loan limits.
“Credit unions see firsthand the barriers military entrepreneurs face—from accessing venture capital to navigating outdated SBA systems,” says Anthony Hernandez, DCUC President/CEO. “We commend the Senate Small Business Committee for advancing targeted solutions that will empower veteran- and military spouse–owned businesses across the country.”
“Whether it’s a young veteran launching a defense-tech startup or a rural military spouse expanding a small business, these reforms will directly impact lives,” says Stverak. “DCUC and our member credit unions stand ready to help implement these changes and ensure they reach the people who need them most.”
Stay up to speed with DCUC’s advocacy and representation at dcuc.org/news.