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NAFCU, working with DCUC, continues NDAA push on the Hill
NAFCU President and CEO Dan Berger, along with Defense Credit Union Council (DCUC) President and CEO Anthony Hernandez, and members of NAFCU's Legislative Affairs team were on Capitol Hill yesterday to continue discussions with lawmakers to ensure that an industry-opposed provision is not included in the final version of the FY2020 National Defense Authorization Act (NDAA). Last year, NAFCU's efforts led House and Senate conferees of the FY2019 NDAA to drop the provision regarding bank leases on military installations.
View the full conference committee and learn more about what this section would mean for credit unions.
The provision – if included in the final version of the bill – would treat all banks, including large ones like Wells Fargo, the same as local, not-for-profit credit unions when it comes to nominal leases on military bases. While it was included in the Senate-passed version of the bill, the association's advocacy efforts kept it out of the House bill. NAFCU and DCUC previously teamed up to share credit unions' concerns following the bill's passage. NAFCU believes that enacting this provision would disadvantage credit unions.
While the Department of Defense 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."
Credit unions are encouraged to join NAFCU and DCUC in their advocacy efforts by using the association's Grassroots Action Center to contact lawmakers directly and urge them to oppose the provision. During NAFCU's Congressional Caucus earlier this month, hundreds of credit unions held a record number of meetings with lawmakers during which NDAA concerns were directly discussed.
NAFCU's award-winning advocacy team will continue its work to ensure that the provision is not included in the final version of the bill, just as it did lst year. Stay tuned for updates via NAFCU Today as the association vigilantly monitors the conference committee.