DCUC Warns Against Last-Minute Threats and ICBA Narratives, Recent Letter to Ways and Means Committee

Jason Stverak

The Defense Credit Union Council (DCUC) has urged the House Ways and Means Committee to reject any late-breaking attempts to study—or weaken—the federal tax-exempt status of credit unions. In a letter ahead of the committee’s expected markup, DCUC Chief Advocacy Officer Jason Stverak opposed the Independent Community Bankers of America’s push for yet another review as a “thinly veiled attack” on credit union, member-owned financial cooperatives. See DCUC’s recent opinion piece from CU Today: The Tax Bill Is Silent, But We Cannot Be: Why the Credit Union Movement Must Stay Vigilant.
 
“Credit unions reinvest every dollar into members through lower loan rates, higher savings returns, and financial education—especially in military communities where our institutions support readiness and protect against predatory lending,” Stverak says. In the letter, Stverak reiterates that a 2025 economic study showed credit unions delivered $26.9 billion in direct member benefits last year and that repealing their exemption would shrink GDP by $266 billion and cost 822,000 jobs over the next decade.
 
DCUC reaffirms credit unions already contribute substantial payroll, property, and sales taxes, and that their cooperative mission makes them vital financial lifelines wherever banks have departed. Stverak adds, “Instead of diverting scarce legislative time to pitting financial institutions against one another, Congress should focus on policies that expand consumer choice, promote inclusion, and strengthen community resilience.”
 
“As leaders of the defense credit union movement, we know that vigilance off the battlefield is just as crucial as on it—especially now as Congress rewrites the tax code. Though the House draft is silent on our tax-exempt status, we cannot mistake that for safety: bills can shift at a moment’s notice under pressure from bank-backed interests seeking to undermine our not-for-profit mission,” says Stverak.
 
Yesterday, DCUC announced the long-anticipated tax package drafted and unveiled by House Republicans contained no mention of credit unions or proposals that would alter their longstanding federal tax exemption. Regardless, DCUC will continue its advocacy and vigilance as official deliberations and markups press forward.
 
“This is our moment to rally—to reaffirm that our exemption is a public good, counter attacks on our model, and showcase how defense credit unions deliver essential support to military families. More than protection, we must seize this opportunity to unify our system, amplify our voice in Washington, and strengthen our identity as mission-driven financial institutions. DCUC stands ready to lead—let’s read, share, and act together so that credit unions not only survive but thrive for generations to come,” Anthony Hernandez, DCUC President/CEO echoed.
 
For more information, please contact Jason Stverak at [email protected] and visit dcuc.org/advocacy.

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