CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Jobs
  • Contact

News

Home » Senate reaches defense deal free of harmful CU provision
Press

Senate reaches defense deal free of harmful CU provision

August 1, 2018

FOR IMMEDIATE RELEASE  

CONTACT: Lauren Williams – CUNA Communications; (202) 626-7642; lwilliams@cuna.coop 

Washington, DC (August 1, 2018) – The Senate voted in favor of a conference report that omits a harmful provision to military credit unions under the 2019 National Defense Authorization Act (NDAA). Credit unions will continue to receive exemption from costs associated to the furnishing of office space and/or land (including ATM placement) on military bases – as governed by Section 124 of the Federal Credit Union Act.  

Credit Union National Association (CUNA) led the charge to remove Section 2808 from the NDAA which intended to treat Federal or State charted insured depository institutions equally with respect to the financial terms of leases, services and utilities. Unfortunately the definition of "insured depository institutions" excluded credit unions.  

"We thank both chambers for considering our concerns and removing this unclear language from the NDAA," said CUNA President/CEO Jim Nussle. "We will continue to be vigilant to ensure credit unions in military communities can continue to provide safe and affordable products to help meet the needs of our country's servicemen and women." 

In partnership with Leagues, credit unions and the Defense Credit Union Council, CUNA has remained vocal opponents of this provision. Alaska Federal Credit Union wrote to Senator Sullivan, CUNA wrote to Committee Leadership at the end of June and four members of Congress wrote to Armed Services Committee Leadership in support of striking Section 2808 in NDAA TY 2019.  

The NDAA passed the House last week.  

### 

About CUNA 

Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 110 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. 

Credit Union Magazine: Spring 2023

Spring 2023

Credit Union Magazine’s Spring 2023 issue features the 2023 Credit Union Heroes and examines CUNA-League advocacy priorities, board leadership, the impact of financial well-being efforts, fee-related compliance issues, predictions for the year ahead, and more.
Digital Edition •  Subscribe

Trending

  • CUNA Mascot Madness: Voting opens for East Region

  • Mascot Madness: East winner crowned; Midwest voting opens

  • League leaders highlight credit union difference, safety, soundness

Tweets by CUNA_News

Polls

CUNA Mascot Madness: Which Midwest Region mascot is your favorite?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us