A joint op-ed from America’s Credit Unions‘ President/CEO Jim Nussle and Defense Credit Union Council President/CEO Anthony Hernandez highlights the storied relationship between credit unions and our nation’s service members. The nation’s defense credit unions (DCUs) serve more than 40 million credit union members, making up over a quarter of all credit union members in the United States.
“With a shared focus of service, credit unions play a critical role for military members and their families—often as their very first financial institution and growing with them through life’s changes from generation to generation,” they wrote in CU Today. Part of that critical role is due to the targeted financial services that defense credit unions provide.
“Each credit union specializes in offering financial services to members of the military, with training and experience to address the unique financial challenges that face our men and women in uniform every day. From handling irregular pay cycles, deployment gaps and frequent relocations, to offering programs that support early pay, credit builder and financial readiness programs—defense credit unions ensure military members are financially strong for life during and after service,” Nussle and Hernandez wrote.
Serving military members well hinges on meeting those unique needs.
“Whether it is by defending access to credit union financial services or working one-on-one with service members to reach their financial dreams, defense credit unions’ focus on members never wavers. These credit unions routinely provide robust financial education to members, pairing every account with transparent disclosures and counseling,” they wrote. “Simply, defense credit unions give the military community stable, mission-aligned banking, actively shield troops from payday lenders outside the gates, and save the government and more individual members’ money.”
CU Today released the op-ed last Thursday, in advance of the Memorial Day recognition of military members’ service and sacrifice. Nussle and Hernandez expressed the credit union industry’s honor in serving as a trusted partner for members of the armed forces.
“Like military members’ commitment to protecting our nation, credit unions are committed to protecting the financial future of service members and their families. When our service members thrive, so does the entire country.”