DCUC Backs Credit Union Role Before Senate: Veteran Small Businesses, Homeownership, and Financial Access

Anthony Hernandez

The Defense Credit Union Council (DCUC) recently submitted official statements on behalf of credit unions to both the Senate Committee on Small Business & Entrepreneurship, and Senate Appropriations Subcommittee on Military Construction, Veterans Affairs, and Related Agencies. Please see each official release attached.

DCUC urged Senate SBC leaders to support the Veterans Member Business Loan Act (VMBLA), noting that veteran-owned businesses generate hundreds of billions in economic activity, and yet veteran entrepreneurs continue to face higher financing gaps and lower approval rates than their nonveteran peers. DCUC explained that the VMBLA would provide a targeted fix by exempting qualifying veteran business loans from the current credit union lending cap, expanding access to capital without compromising safety and soundness.
 
“Expanding responsible access to capital for veterans is both an economic priority and a commitment to those who served,” says Anthony Hernandez, DCUC President/CEO, Ret. USAF Colonel. “The Veterans Member Business Loan Act is a practical, bipartisan solution that empowers credit unions to do more for veteran entrepreneurs, local economies, and job creation.”
 
In the letter, DCUC’s Chief Advocacy Officer Jason Stverak explained that many veteran-owned businesses require relatively small amounts of startup capital, often under $50,000, making credit unions particularly well-suited to meet those needs through relationship-based lending.
 
Separately, DCUC submitted an official Statement for the Record to the Senate Appropriations Subcommittee on Military Construction, Veterans Affairs, and Related Agencies during its review of the FY2027 budget request for the Department of Veterans Affairs.

DCUC called on lawmakers to fully protect and strengthen VA home loan and Loan Guaranty programs that help veterans purchase, keep, and sustain homeownership.
 
“Veterans have earned access to reliable pathways to homeownership, and Congress must ensure the VA home loan program has the resources and tools to deliver on that promise,” says Hernandez. “Strong funding for these programs means more veterans can buy homes, avoid foreclosure, and build long-term financial stability.”
 
Representing more than 200 defense credit unions serving over 40 million members worldwide, DCUC shared how these institutions work directly with servicemembers, veterans, military families, caregivers, and survivors, providing mortgage lending, financial counseling, and direct access to VA benefits.
 
DCUC’s recommendations to the Subcommittee include:

• Supporting no less than the FY2027 request for the VA Housing Credit Program Account.
• Preserving strong loss-mitigation and foreclosure-prevention resources within Loan Guaranty administration.
• Reducing operational barriers in the home loan process, including appraisal delays and borrower competitiveness challenges.
• Supporting the FY2027 request for the Native American Direct Loan (NADL) program.
• Expanding direct deposit access and partnerships with veteran-serving credit unions through the Veterans Benefits Banking Program (VBBP).

​DCUC also encouraged the VA to explore additional opportunities for credit unions to serve veterans within VA facilities, where appropriate, to improve benefit delivery, financial education, and housing readiness.
 
“Credit unions see firsthand how financial access and housing security go hand in hand,” adds Stverak. “When veterans can safely receive benefits, access trusted guidance, and secure affordable financing, they are better positioned to thrive.”
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