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NAFCU keeps up pressure on NDAA lease provision
NAFCU yesterday shared with members an update on the status of the National Defense Authorization Act (NDAA) lease provision requiring the Department of Defense (DoD) to treat big banks the same as a military installation's local, not-for-profit credit union when it comes to nominal leases on military bases.
Earlier this month, NAFCU President and CEO Dan Berger and DCUC President and CEO Anthony Hernandez sent a letter to Senate Armed Services Committee Chairman James Inhofe, R-Okla., and Ranking Member Jack Reed, D-R.I., and House Armed Services Committee Chairman Adam Smith, D-Wash., and Ranking Member Mac Thornberry, R-Texas, as work begins to reconcile differences in the fiscal year 2020 NDAA.
The Senate-passed NDAA contains the NAFCU- and DCUC-opposed provision while the House-passed version does not.
“NAFCU remains staunchly opposed to the Senate leasing language. We are continuing to work with our allies in both the House and Senate to keep it out of any final bill that will be agreed on in a conference committee,” said Brad Thaler, NAFCU’s Vice President of Legislative Affairs.
Thaler said that the House and Senate versions of the bill will have to be reconciled in a conference committee in order to create a final product. Now would be the time to reach out to your Senators and Representatives to express your concerns with the Senate version of the bill. If you would like to continue to take action visit NAFCU’s Grassroots Action Center to stay involved.
While the DoD is not required to offer credit unions space on military bases at a nominal rate, they have chosen to do so because the department "recognizes the value that credit unions bring to our men and women in uniform, in good times and bad."
NAFCU has ardently opposed this provision throughout NDAA discussions and its efforts kept it out of the House bill. Last year, the association's efforts led House and Senate conferees of the FY2019 NDAA to drop the provision regarding bank leases on military installations. The association will work to ensure it is not included in the final version of the bill, just as it did last year.
Credit unions are encouraged to use NAFCU's grassroots advocacy campaign to contact their members of Congress directly and advocate against the provision's inclusion.