Investing in veterans means supporting credit unions
This week marks National Invest in Veterans Week, which for credit unions means ensuring access to stable financial institutions, affordable credit, and real economic mobility. America’s Credit Unions President/CEO Scott Simpson detailed the importance of this investment in Stars and Stripes Monday.
“For active duty service members, financial stability is closely tied to readiness. For veterans, access to affordable capital often determines whether the transition to civilian life begins with momentum or friction. If policymakers and financial institutions want to meaningfully invest in veterans, the conversation should focus heavily on credit access, small-business formation, and long-term financial security,” Simpson wrote. “We know that veterans can’t focus on their mental and physical health needs without a strong financial foundation.”
Credit unions have long occupied a distinctive role in military communities, and remain embedded near installations across the country, serving service members and their families through deployments, relocations, and transitions.
“If Congress wants to encourage veteran entrepreneurship and financial readiness, it should ensure that community-based lenders have the regulatory clarity and capital capacity to serve them effectively. Modernizing digital access for deployed service members, maintaining sensible capital standards and preserving strong consumer protections are measures that shape outcomes for military families.”
Credit unions continue to advocate for solutions to increase service to military members, including support for bipartisan legislation to exempt loans made to veteran-owned businesses from the member business lending cap.
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