Credit union trades worried about military base access study

The Defense Department has hired a contractor to conduct a study about credit union and bank access to military bases, according to three credit union trade groups.

And those groups—the Defense Credit Union Council, the Credit Union National Association and the National Association of Federally-Insured Credit Unions—want to make sure that the industry has input into the study.

What Are the Rules Regarding Credit Unions on Military Bases?

The battle between banks and credit unions over access to military bases is fought every year, as Congress considers the annual defense authorization bill. The House Armed Services Committee last year included language in its version of the annual defense authorization bill requesting the report.

Under current law, credit unions, but not banks, may have rent-free branches on military bases. Banks have long argued that they too should have that benefit. Credit union trade groups have fired back that they are non-profit, member-owned institutions and as such, they should be given that benefit.

 

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