NCUA CHAIRMAN JOHNSON COMMENDS
AMERICA’S DEFENSE CREDIT UNIONS FOR SERVICE TO
MILITARY FAMILIES
Defense Credit Unions Are Vital Financial Partners
For America’s Veterans and Soldiers
Charleston, SC, August 22, 2005 – In remarks today before the 42nd Annual Conference of the Defense Credit Union Council, National Credit Union Administration (NCUA) Chairman JoAnn Johnson commended the vital role of over 270 defense affiliated credit unions in serving as “vital partners to military families at home and serving abroad.”
“Whether it is veterans who have defended America’s freedom or armed forces who are advancing freedom, families count on their credit union as a financial partner and to help their families during this time of war on terror,” said Chairman Johnson.
In addition, Chairman Johnson applauded the officials for their efforts to enhance financial education initiatives among the military. “Defense credit unions are leading the way in making this a priority for the nation’s armed forces – for those deployed and at home, including their family members.”
“Credit unions are answering the call of service to Americans serving around the globe by providing their members with personal financial services including special lending considerations during this time of war,” the chairman said, noting the Soldiers' and Sailors' Civil Relief Act, which temporarily limits the financial obligations of military personnel while they are on active duty, as well as creditors' remedies against such personnel in certain circumstances.
The Defense Credit Union Council is an organization of credit unions whose membership consists wholly or in part of personnel of the U.S. Department of Defense, both military and civilian. There are over 10 million members of American defense credit unions worldwide. The council is governed by a seven-member board of directors from each of the services – Army, Navy, Air Force, and Marine Corps.
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