Credit Unions Build CampaignWarchests

Register now

WASHINGTON - (08/05/04) -- Credit unions have raised theirpolitical fundraising to new levels for the fall elections, givingthem more money than ever before to help favored candidates.Federal Election Commission records show that political actioncommittees affiliated with credit unions have accumulated almost$1.5 million in cash, about $1 million of it in PACs affiliatedwith CUNA or one of its state league affiliates, in preparation forthe elections, a new high. Among the largest credit union warchestsheading towards the elections are: CUNA ($576,000); NAFCU($175,000); and the Michigan CU League ($113,000). But also severalindividual credit unions have formed their own PACs in preparationfor aiding credit union allies this fall and they are also sittingon warchests: Philadelphia FCU ($48,000); Truliant FCU ($43,000);Coastal FCU ($23,000); Affinity FCU ($21,000); U.S. Central CU($19,000) and Security Service FCU ($18,000).

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER