The House Armed Services Committee passed its version of the fiscal year 2021 National Defense Authorization Act (NDAA) early Thursday without a provision expanding a military base lease exemption. Credit unions are currently eligible for the exemption, which allows for the waiving of certain fees and costs, and CUNA pushed back against efforts to expand the exemption from banks.
Bankers requested such a provision be inserted into the House NDAA, but CUNA engaged with policymakers on the topic, noting that credit unions’ not-for-profit nature and focus on member service are the reason they continue to have access to military bases.
The Senate currently is considering its version of the NDAA with the expansion provision in it, while CUNA and Leagues continue engagement with key policymakers to ensure the final NDAA does not contain the provision.