Working closely with our League partners, America’s Credit Unions is focused on electing a pro-credit union 120th Congress. Years of work go into the general election, from assessing open seats, the status of current champions, and the political environment.
The goal: to fill as many seats in Congress as possible with legislators who support the credit union difference. Legislators who know that the credit union tax status is one of the most pro-consumer public policies that exist today.
Mid-term elections historically see the party controlling the White House lose seats. This year, with a near-record number of open seats and redistricting efforts across the country, there are plausible scenarios showing both parties controlling either chamber.
But the credit union difference is bipartisan.
In this Congress alone, senators and representatives have reached across the aisle to introduce bills modernizing federal credit union board meeting requirements, providing member business lending relief, making Central Liquidity Facility enhancements permanent, and many more.
Credit union champions realize that access to credit unions supersedes political differences and instead represents a focal point for compromise and sound public policy.
As we approach the midterms, America’s Credit Unions and our League partners are focused on supporting those champions.
Longtime credit union supporter Rep. Brad Sherman, D-Calif., advanced to November through a strong primary challenge after the National Advocacy Fund (NAF) and California’s Credit Unions delivered “get out the vote” messages to credit union members in the district.
Another champion, Rep. Young Kim, R-Calif., advanced to November’s general election after a strong primary challenge. America’s Credit Unions PAC supported Kim with digital ads and mailers to credit union members in the newly redrawn district.
These are just a few examples of how we not only support incumbent credit union champions, but work to fill open seats with supporters.
The stakes are also high in nearly 60 open seat races this cycle. Each open seat is an opportunity to work with our League partners to find a credit union friend to support.
In Kentucky, Rep. Andy Barr won the Republican Senate primary, putting a lawmaker with a strong understanding of credit unions and the issues they face in position to move to the upper chamber.
Rep. Barr’s open door and willingness to listen is vitally important, and he regularly engages with Kentucky’s Credit Unions and credit unions in his home state and in Washington, D.C. His efforts to reform the CFPB, create data privacy legislation, and get capital to small businesses has provided opportunities to work with credit unions in his district.
Longstanding relationships like these often last as policymakers advance their careers. In Illinois, state Rep. La Shawn Ford is running to replace retiring Rep. Danny Davis in the state’s 7th Congressional District.
A longtime state representative, Ford has worked closely with the Illinois Credit Union League for years, and we’re glad to support him in his efforts to move to federal office.
America’s Credit Unions PAC is one of the most bipartisan in the country, and together with NAF is investing a combined $8 million in candidate contributions, independent expenditures, and member communications to elect champions like these in the midterm elections.
To understand why a credit union-friendly Congressional majority is essential, simply look at the reconciliation process in this 119th Congress. Both in last year’s effort and the reconciliation 2.0 legislation underway now, our proactive efforts in building relationships and understanding with lawmakers have made an impact. They recognize how credit unions benefit our country and know the people they serve. As a result, changing the credit union tax status as any kind of “pay for” was a non-starter.
Credit unions go to bat for those who support them. The credit union tax status remains secure, with a chance to advance additional policy priorities, because elections—and credit unions’ political engagement—matter.
