The U.S. Capitol Building
As the Senate Armed Services Committee advances its version of the fiscal year 2026 National Defense Authorization Act (NDAA), America’s Credit Unions urged lawmakers to preserve credit union access to military installations and protect the financial interests of servicemembers and their families.
In a letter dated July 8 to Committee Chairman Sen. Jack Reed (D-R.I.) and Ranking Member Sen. Roger Wicker (R-Miss.), the trade association stressed the importance of maintaining Section 1247 from the House-passed version of the NDAA. That provision would require the Department of Defense to treat credit unions and banks equally regarding nominal leases on military bases.
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“Parity in nominal leasing authority ensures that all depository institutions on military installations operate under the same terms, which will increase access to financial services for servicemembers and their families,” the letter stated.
America’s Credit Unions also asked the committee to oppose any amendments that would eliminate rent-free access for credit unions, which have long provided essential financial services to military communities, particularly in remote or overseas locations where alternatives are limited.
“Credit unions provide servicemembers with safe, affordable financial products,” the group wrote. “The long-standing policy that permits rent-free access to military bases is not just about fairness, but about ensuring consistent, affordable financial access for those who serve.”
The letter noted that credit unions return more than $20 billion annually to members through better rates and lower fees, benefits that directly impact military families struggling with rising costs and frequent relocations.
As Congress continues negotiations on the final version of the NDAA, America’s Credit Unions urged lawmakers to preserve existing leasing policies and ensure that servicemembers retain access to affordable, mission-aligned financial institutions.
“Ensuring parity and continued access to base facilities is essential to fulfilling our shared responsibility to those who serve,” the letter concluded.
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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.
