FOR IMMEDIATE RELEASE
December 3, 2020
Credit Union National Association (CUNA) President/CEO Jim Nussle released the following statement after House and Senate legislators released the FY21 National Defense Authorization Act (NDAA) today without a language provision that would allow certain banks to obtain cost waivers to operate on military installations:
“CUNA and Leagues worked collaboratively to remind lawmakers that the financial wellness of our servicemembers is more important than bankers’ profits, resulting in the final bill unveiled by the conference committee today. Credit unions have long legacy of service to the military and its military families, which is why they were granted the opportunity for such arrangements in a 2006 amendment to the Federal Credit Union Act.”
CUNA, State Leagues, and the Defense Credit Union Council advocated to exclude this provision, which was included in the Senate-passed NDAA, from the final bill.
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 120 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.