The Defense Credit Union Council (DCUC) urged lawmakers to prioritize financial services for servicemembers as a core component of military readiness ahead of a House Armed Services Committee hearing on Wednesday.
In a letter submitted before the panel's review of the Department of Defense's fiscal year 2027 budget, DCUC said financial stability directly impacts mission readiness, morale and the overall effectiveness of military personnel.
The group called on Congress to establish a formal oversight structure within the Defense Department, including an advisory committee to coordinate military banking policies and improve transparency.
DCUC also raised concerns about challenges within the Overseas Military Banking Program, citing contract issues, inconsistent access to services and barriers that limit credit unions' ability to provide financial education on bases.
Among its recommendations, the group urged lawmakers to require regular reporting on financial services access at military installations and ensure compliance with consumer protection laws.
"Financial readiness is mission readiness," DCUC wrote, emphasizing the need for coordinated policy and improved access to safe, affordable financial services for military families.
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