Congress and NDAA: Bipartisan Group Stands Up for CUs

Congressional capitol building

Today, a bipartisan group of 50 members of the House of Representatives sent a letter to their colleagues working on this year's National Defense Authorization Act (NDAA).

The letter draws a line of support for credit unions. At question is whether or not to allow banks rent-free access to military bases, a fight credit unions have successfully fought for more than four years. Credit unions have this privilege as not-for-profits, while banks have been seeking parity. However, Congress has continually sided with credit unions on this matter.

The letter, which was requested by the California and Nevada Credit Union Leagues and the Credit Union National Association (CUNA), is led by three California congressional representatives who are on the Armed Services Committee — Reps. Jackie Speier, John Garamendi and Paul Cook. Speier and Garamendi are the subcommittee chairs who govern this issue.

The letter is signed by 47 other members of Congress, the bulk of which are from California and Nevada — further reminding the leadership of the two states’ strong support for credit unions.

The NDAA is a must-pass bill that is currently pending in a conference committee. The Leagues greatly appreciate those representatives who signed this letter.

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