DCUC Warns Senate Of Rising Senior Fraud Threat, Urges Budget Protection For CUs / Fresh Today / CUToday.info | #datingscams #romancescams

WASHINGTON–The Defense Credit Union Council Tuesday sent a letter to Senate Special Committee on Aging Chairman Rick Scott and Ranking Member Kirsten Gillibrand ahead of the hearing, “Empowering Seniors Through Financial Literacy: Tools to Protect Savings, Prevent Fraud, and Promote Independence.”

In the letter, DCUC stressed the growing threat of financial fraud targeting older Americans, including military retirees and veterans, and highlighted the important role credit unions play in prevention, education, and member protection.

“Older Americans, especially veterans and military retirees, are increasingly targeted by sophisticated financial scams, making financial education and fraud prevention more important than ever,” wrote Jason Stverak, DCUC chief advocacy officer. “Credit unions play a critical, trusted role in protecting these communities by providing accessible tools, personalized guidance, and proactive safeguards that help members maintain financial independence.”

DCUC also sent a letter to Chairman Jodey Arrington and Ranking Member Brendan Boyle ahead of the House Budget Committee hearing on “The President’s Fiscal Year 2027 Budget Request,” outlining key priorities and two critical issues: protecting the longstanding federal tax status of credit unions from being used as a budget offset, and opposing proposed cuts and restructuring to the U.S. Treasury’s Community Development Financial Institutions (CDFI) Fund.

“The decisions made in the FY2027 budget will have real consequences for financial readiness and resilience, especially for military families and veterans,” said Anthony Hernandez, DCUC president/CEO, Ret. U.S. Air Force Colonel. “Credit unions are a proven, mission-driven model that returns value directly to members, especially in times of financial stress. Policymakers should protect this system by preserving the credit union tax status and maintaining strong support for programs like the CDFI Fund that expand access to safe, affordable financial services.”