NAFCU Cultivates New Ground In Congressional Funding

ALEXANDRIA, Va. – NAFCU replenished its campaign coffers during its annual convention last week in Toronto, just as the final days of the 2005-2006 mid-term elections approach. The more than $60,000 raised during the three-day event infused new cash into the political action committee, which reported Monday its available cash had fallen to $148,534 at mid-year, down from $167,297 in cash at the same point in the 2004 Presidential elections. For the first time, NAFCU has begun contribution to congressional leadership PACs, operated by top members of the House and Senate to supplement to normal fundraising channels. NAFCU made contributions to the ROYB (for House Majority Whip Roy Blunt) Fund ($2,500); Sen. Debbie Stabenow’s America’s Leadership PAC, ($1,000); the Blue Dog Fund, for moderate southern Democrats ($1,500); and Growth and Prosperity PAC for Rep. Spencer Bachus. Before now, NAFCU only contributed to leadership PACs for congressional chairmen, like Financial Service Chair Michael Oxley’s Leadership PAC 2006 ($6,000) and Financial Institutions Subcommittee Chair Bachus and his Growth and Prosperity PAC ($5,000).