NAFCU Cultivates New Ground InCongressional Funding

ALEXANDRIA, Va. - (07/19/06) – NAFCU replenished its campaigncoffers during its annual convention last week in Toronto, just asthe final days of the 2005-2006 mid-term elections approach. Themore than $60,000 raised during the three-day event infused newcash into the political action committee, which reported Monday itsavailable cash had fallen to $148,534 at mid-year, down from$167,297 in cash at the same point in the 2004 Presidentialelections. For the first time, NAFCU has begun contribution tocongressional leadership PACs, operated by top members of the Houseand Senate to supplement to normal fundraising channels. NAFCU madecontributions to the ROYB (for House Majority Whip Roy Blunt) Fund($2,500); Sen. Debbie Stabenow’s America’s LeadershipPAC, ($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 forcongressional chairmen, like Financial Service Chair MichaelOxley’s Leadership PAC 2006 ($6,000) and FinancialInstitutions Subcommittee Chair Bachus and his Growth andProsperity PAC ($5,000).