NAFCU Fined For CampaignReporting

WASHINGTON - (01/13/06) – The Federal Election Commissionsaid Thursday it fined NAFCU $1,000 for failing to report a largeportion of funds raised at the end of the last elections. The FECnoted that the post-election report that NAFCU submitted after the2004 congressional elections disclosed just $255 in donationscollected from memers but failed to disclose $56,600 in donationsraised in the month following the elections. Murray Chanow,political director for NAFCU, said the misreporting was anoversight that NAFCU corrected on its own but the FEC believed theyshould be cited. “Because the mistake was so big, compared tothe whole report, they fined us $1,000,” he told The CreditUnion Journal.