The U.S. Capitol. Credit: Thinkstock
The Defense Credit Union Council (DCUC) convened an urgent industry-wide strategy session this week as the U.S. Senate prepares to consider a sweeping Reconciliation Bill that could impact the longstanding tax-exempt status of credit unions.
“This is not the time to take a victory lap,” Anthony Hernandez, DCUC's president/CEO, said. “The long campaign continues as we move to the Senate and start all over.”
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The strategy meeting brought together credit union leaders and advocacy partners from across the country to align messaging, sharpen legislative strategy and coordinate grassroots advocacy. The goal: Defend key credit union priorities, including tax status, interchange protections and opposition to the Credit Card Competition Act (CCCA).
John McKechnie, DCUC advocacy consultant, underscored the stakes, noting, “Credit unions are just a drop in the bucket at $3.1 billion, but if the Senate starts looking at all the drops, this argument may lose weight.”
DCUC provided attendees with updates on Senate Finance Committee activity, including developments from a recent meeting with former President Trump. While the House version of the bill protects the tax exemption, Senate deliberations may open the door to offsets that put credit unions at risk.
Other key topics included the potential reemergence of the CCCA as a rider to major legislation such as the National Defense Authorization Act or the Farm Bill. Participants also reviewed tailored communications strategies to counter recent bank-led media efforts and to elevate the credit union story nationwide.
“We need to harmonize our voice and strengthen our momentum,” Hernandez emphasized. “We need to keep telling stories that show the real value of credit unions in people’s lives.”
As part of its next steps, DCUC announced a forthcoming joint letter to the Senate and the rollout of advocacy templates, messaging handouts and regionally coordinated PR campaigns. The session closed with a clear mandate: Maintain unity, elevate impact and protect credit union interests in the legislative arena.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
