User login

HCUA joins other credit union leagues in NDAA letter

HCUA, together with CUNA and other leagues, sent a letter to the U.S. House and Senate Armed Services Committee leadership last week. The letter expresses concern about a provision in the Senate version of the National Defense Authorization Act (NDAA) for fiscal year 2020 that would provide rent-free access installations for profit-centered financial institutions. The House version does not include this provision, due in part to significant outreach by credit unions and leagues, including HCUA. 

The Department of Defense (DOD) currently has discretionary authority to waive certain costs for land leases and fees for credit unions. Section 2821 of the Senate version would allow for potential expansion of the exemption for financial institutions that meet the same standards as credit unions eligible for the exemption. We will keep you posted on outreach needed to engage with lawmakers as the bill moves into conference committee.