Congressional Champions Earn CUSupport

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WASHINGTON - (08/27/04) -- Credit union executives and tradegroups have come forward to support their most loyal lawmakers, aswell as those in positions of power. Federal Election Commissiondata reviewed by The Credit Union Journal shows that Rep. Ed Royce,the California Republican who helped draft the CU RegulatoryImprovement Act, or CURIA, is the biggest recipient of credit unioncampaign contributions, receiving a total of $45,000, $25,000 of itfrom credit union executives and $20,000 from political actioncommittees for credit unions. Tied for second with $20,500 incredit union contributions, are Rep. Brad Sherman, D-Calif., who isleading efforts to allow credit unions to raise secondary capital,and Ohio Rep. Michael Oxley, the chairman of the House FinancialServices Committee. Next is Rep. Paul Kanjorski, D-Pa., the chiefsponsor of HR 1151 ($19,500); then Spencer Bachus, R-Ala., thechairman of the Financial Service's Subcommittee on FinancialInstitutions ($18,000).

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