RICHMOND, Va. The Virginia CU League stepped into the high-profile governor’s race and endorsed Democrat Terry McAuliffe.
McAuliffe expressed his support for preserving the credit union tax exemption, which he said enables credit unions to better serve the needs of working families by offering better rates and fewer fees. As part of his focus on job creation and ensuring small businesses have access to capital, McAuliffe noted his backing for changes in federal law that would allow credit unions to make more loans to small businesses.
"Terry McAuliffe understands the unique role of not-for-profit credit unions in the marketplace and appreciates that some 3 million Virginians count on us as their financial services partner," said Rick Pillow, president of the League, which represents 174 credit unions. "Credit unions face a host of challenges at both the state and federal levels, and Terry's commitment to support us in Richmond and in Washington proved he truly is a friend to credit unions and the hard-working Virginians that depend on us."
McAuliffe, the former chairman of the Democratic National Committee, is running against Republican Ken Cuccinelli, the state’s attorney general, in an election seen by many as a signpost of the political winds.
