FOR IMMEDIATE RELEASE
December 9, 2019
“We commend the conference committee for putting our servicemembers’ financial readiness ahead of Wall Street profits in the FY 2020 NDAA. We thank the conferees and every lawmaker who worked with credit union advocates to keep such controversial language out of this important legislation, ensuring that our troops can remain focused on keeping our country safe.”
— Credit Union National (CUNA) President/CEO Jim Nussle
The final version of the fiscal year 2020 National Defense Authorization Act (NDAA) was released without a provision that would have allowed certain banks to obtain cost waivers to operate on military installations. Credit unions on military bases are focused on ensuring the financial readiness of America’s service members. CUNA and the Leagues maintain that banks – which profit off servicemembers to benefit Wall Street investors — should not be granted the same rent-free access afforded to credit unions that meet certain provisions in addition to delivering the not-for-profit mission and member-owned structure to bases at home and abroad.
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 115 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. To find your nearest credit union, visit YourMoneyFurther.com.