Election Ruling To Boost CUNA's CampaignFunding

Register now

WASHINGTON - (07/18/05) -- The Federal Election Commission lastweek gave its go-ahead to political action committees to useautomatic payroll deduction to help finance campaign activities,giving a potential boost to both CUNA and its rival banking groups."This will allow credit unions to do payroll deductions for CULAC(CUNA's PAC)," Richard Gose, political director of CUNA, wholobbied the FEC on the ruling, told The Credit Union Journal. "Thiswill benefit a number of groups; anyone who has members who arecorporate entities." Gose said he sees credit union employeesauthorizing their credit unions to automatically send $2 or $3 eachpay period to CULAC, to help campaign contributions on behalf ofcredit unions. Ironically, the legal opinion was requested from theFEC by America's Community Bankers, one of a number of trade groupsthat are locked in constant battle with CUNA and the nation'scredit unions.

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