DCUC Urges House Leaders to Protect Credit Union Tax-Exempt Status in Senate Passed H.R. 1

Jason Stverak

The Defense Credit Union Council (DCUC) has sent a formal letter to Speaker Mike Johnson and House Minority Leader Hakeem Jeffries urging them to preserve the longstanding federal tax-exempt status of credit unions—particularly those serving military members, veterans, and their families—as the House considers the Senate-passed reconciliation bill, H.R. 1.

DCUC represents more than 200-member credit unions serving over 40 million members worldwide. Collectively, these defense credit unions manage more than $525 billion in assets and provide critical financial services to active-duty personnel, retirees, and their families, often in remote or underserved areas.

“Taxing credit unions would be a direct hit on the financial readiness of our nation’s military,” said Anthony Hernandez, DCUC President and CEO. “Credit unions operate on bases, offer specialized support, and stand in where for-profit banks will not. Congress has long recognized this essential role, and we urge the House to uphold that legacy.”

“From day one, DCUC has been vigilant in defending the credit union tax exemption,” added Jason Stverak, DCUC’s Chief Advocacy Officer. “We’ve submitted over 30 letters to Congressional leaders this year alone, and we will continue to fight to ensure that the communities we serve are not harmed by misguided policy shifts.”
​
The letter emphasizes that removing the exemption would raise costs for millions of credit union members, reduce services in military communities, and undermine financial access for those who serve our country.

---