Breaking News: DCUC Applauds Final Budget Package for Preserving Credit Union Tax Status

Anthony Hernandez

The Defense Credit Union Council (DCUC) today confirmed that the U.S. Senate has passed its budget reconciliation package, excluding any provisions to tax credit unions or alter their longstanding federal tax status.
 
Jason Stverak, DCUC’s Chief Advocacy Officer, stated, “Nowhere in the bill is there any reference to ‘credit unions’ or ‘federal credit unions.’ There are no proposed changes to the Internal Revenue Code that would affect our status.”
 
“This is a significant win for our industry and the millions of Americans we serve,” said Anthony Hernandez, DCUC President/CEO. “We commend both the House and Senate for recognizing the importance of preserving the federal tax status of credit unions. This decision reaffirms the important role credit unions serve as part of America’s financial ecosystem—especially for our armed forces, their families, and underserved or vulnerable communities.”
 
Throughout budget reconciliation debates, DCUC remained proactive in its advocacy efforts, recognizing potential threats nearly a year ago. DCUC led a strong response, through over 30 singular and joint coalition letters to Congressional committees and leaders, elevating the voice of the entire credit union industry, countering misinformation, and defending against attempts to include harmful provisions to this historic policy.
 
“This victory represents one of the most strategic advocacy campaigns in our history,” said Jack Fallis, DCUC Board Chairman. “From grassroots efforts to high-level engagement, DCUC led an incredible front across the entire credit union movement. We were on the frontlines from the start, anticipating risks early and leading both the offense and defense to protect our tax status. The entire team, our strategic allies and partners, and our members carried a strong, relentless dedication to preserving, protecting, and championing the credit union mission.”
 
“We urged lawmakers to stand strong against misguided proposals that would have hurt military families and working Americans, and we’re incredibly grateful that our collective voice was heard,” Stverak said. “While some uncertainty remains—with both chambers of Congress having passed their own versions of the package and final negotiations still ahead—we will remain vigilant to ensure the credit union tax status is protected and preserved when the final bill reaches the President’s desk.”
 
For more on DCUC’s work in preserving credit unions’ federal tax exemption,
​visit: dcuc.org/lettersandcomments/category/credit-union-tax-exemption

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