CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • 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
  • COVID-19
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » CUNA pushes against increased bank access to bases in Senate NDAA
Policy & Issues

CUNA pushes against increased bank access to bases in Senate NDAA

June 24, 2019

CUNA called on Senate leadership Monday to reject inclusion of any language in the National Defense Authorization Act (NDAA) for fiscal year 2020 that would expand the Department of Defense’s (DoD) authority to exempt financial institutions from certain costs on military installations. The current Senate version contains such language, while CUNA, leagues and the Defense Credit Union Council successfully blocked language in the House NDAA that would have broadened the exemption.

“As the only member-owned, not-for-profit, democratically controlled option in financial services, credit unions' mission is to promote thrift and provide access to credit for members,” wrote CUNA President/CEO Jim Nussle. “It is a mission they have fulfilled for more than 70 years and it’s a mission that remains unchanged today. Credit unions are focused on ensuring the financial readiness of our service members and their families.”

The DoD has discretionary authority to waive the cost for land leases and other fees for credit unions who meet specific field of membership standards and secure an agreement with individual base commanders on a case by case basis.

The Senate NDAA currently includes language to expand this exemption to banks that meet similar membership standard to those placed on credit unions seeking these exemptions.

CUNA’s letter also notes that banks have already been granted the ability to gain similar waivers under 10 USC §2667 but have not exercised this authority.

The House NDAA passed the House Armed Services Committee June 12.

 

Credit Union Magazine - Winter 2020

Winter 2020

Credit Union Magazine’s Winter 2020 edition features CUNA’s 2021 lending outlook, CEO insights on adjusting to the pandemic, and board recruitment strategies.
Digital Edition •  Subscribe

Trending

  • Compliance: 2020 Year in Review, Checklist now available

  • NCUA proposes raising threshold for ‘complex’ CUs

  • 5 fraud predictions for 2021

Tweets by CUNA_News

Polls

Will you ask employees to receive the coronavirus vaccine?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is 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

  • About
  • Careers
  • Contact Us
  • Recommended Websites
  • Privacy Policy

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors