NDAA moves forward without harmful credit union language
WASHINGTON, DC (December 14, 2020) — DCUC is pleased to share that the Senate has passed the 2021 National Defense Authorization Act (NDAA) with an overwhelming majority. This follows the NDAA’s passing in the House on Tuesday, December 8. The final version of 2021 NDAA does not include the proposed language that could be harmful to credit unions that was included in the original Senate version.
“This is great news,” said Anthony Hernandez, President/CEO, DCUC. “We are happy to see the NDAA move forward without language that would have forced the DoD to treat credit unions the same as banks.”
The fight to remove the harmful language from the NDAA was successful because the credit union industry presented a unified front. “DCUC was proud to work alongside CUNA, NAFCU and many league partners to defeat this measure. I love seeing our community work together to help our member credit unions serve our military!” said Hernandez.
The bill now moves forward for Presidential signature, and DCUC will continue monitoring the situation until it is signed into law.
About Defense Credit Union Council (DCUC)
The Defense Credit Union Council is the premier resource for credit unions on all military and veteran matters. By maintaining a close and constant liaison with the Pentagon, Capitol Hill, and NCUA, the Council champions the interests of credit unions serving our military and veteran communities by coordinating policy, procedures, and legislation impacting morale and welfare, financial readiness, and the delivery of quality financial products and services. Organized in 1963, the Council’s membership is comprised of 180 credit unions with over 35 million members. If you would like more information about this topic, please contact DCUC at alert@dcuc.org.
