Credit Unions Urge Congress to Expand Veteran Lending

The Defense Credit Union Council asked congressional leaders to enact three credit union reforms through the FY2027 National Defense Authorization Act.

Updated on Nov. 3, 2026 in Military

Credit Unions Urge Congress to Expand Veteran Lending

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Should Congress make it easier for veterans to get business loans from credit unions?

The Defense Credit Union Council sent a letter to House and Senate leadership urging enactment of three credit union priorities. The group asked that the reforms be included in the Fiscal Year 2027 National Defense Authorization Act or another must-pass vehicle.

Why it matters

The proposals target credit access for veteran-owned small businesses, which the letter says face tighter financing than other firms. Lawmakers' decisions on the measures could shape how credit unions lend to veteran-owned suppliers and employers.

Among majority-veteran-owned firms facing financial challenges, 62% used personal funds vs. 53% of non-veteran-owned firms. The proposed maturity limit change would raise the federal credit union general limit from 15 to 20 years, and the outcome of the legislative push remains unknown.

The players

Defense Credit Union Council

A trade group representing credit unions that serve members of the U.S. military and their families.

Jason Stverak

Chief Advocacy Officer of the Defense Credit Union Council who signed the letter to congressional leaders.

Mike Johnson

Speaker of the U.S. House of Representatives, one of the four congressional leaders who received the letter.

John Thune

Senate Majority Leader, one of the four congressional leaders who received the letter.

The details

The letter, signed by DCUC Chief Advocacy Officer Jason Stverak, was addressed to House Speaker Mike Johnson, House Minority Leader Hakeem Jeffries, Senate Majority Leader John Thune and Senate Minority Leader Charles E. Schumer. It urges enactment of the Veterans Member Business Loan Act, the Expanding Access to Lending Options Act and the Padilla-Cramer NCUA Central Liquidity Facility Enhancements Act.

November 3: The Defense Credit Union Council sent the letter on Election Day, urging enactment of the reforms before year end.

Military Context

The push to use the annual National Defense Authorization Act as a vehicle for non-defense financial policy follows that bill's long-standing role as a must-pass legislative carrier. The letter asks lawmakers to add credit union measures to the FY2027 NDAA rather than advance them separately.

Veteran-owned small businesses seeking loans may face tighter credit than other firms, according to the survey data cited. If the proposals are enacted, credit unions could gain room to lend more to veteran-owned suppliers and employers.

The takeaway

Veteran business owners often rely on personal funds when credit is hard to obtain, a pattern the letter highlights. Readers tracking small business lending should watch whether the NDAA moves forward with any of these provisions.