NCUA Approves Expansion of “Qualified Charity” to Veterans Organizations Earlier this year, Defense Credit Union Council (DCUC) and NAFCU (National Association of Federally-Insured Credit Unions) sent a joint letter to the NCUA Board. In the letter, we asked the NCUA to amend the definition of a “qualified charity” as it relates to Charitable Donation Accounts (CDAs) in Part 721.3 of NCUA regulations to include 501(c)(19) veterans’ organizations. Today, our efforts were a great success! The NCUA's decision to grant this revision will not only lessen previous restrictions defense credit unions faced when contributing to veterans' organizations but will also provide all credit unions with more opportunity to better serve their veteran members and communities! DCUC will continue working with each of our member credit unions alongside other veteran service organizations when advocating for the financial prosperity of our Nation's veterans. Lastly, DCUC would like to thank NAFCU for their help in drafting several joint letters, and for their consistent advocacy efforts, along with Abound Credit Union, TruStage, the National Credit Union Foundation (NCUF), and the Credit Union National Association (CUNA). We also want to thank the NCUA Board and staff for making this possible. #veterans #veterancommunity #veteranssupportingveterans #militarycommunity #military
Well done!
Great news in support of our veterans. Thank you for your leadership Tony.
Wonderful for our Veterans!
Great news. Congratulations on all of your hard work Anthony R. Hernandez!
Senior Regulatory Affairs Counsel at America’s Credit Unions
9moGreat work Tony!