Forget about the image of credit unions being the little guy, credit unions have become a big-time special interest group in Washington, D.C.
According to a story in The Hill, the Credit Union National Association (CUNA) and its political action committee, the Credit Union Legislative Action Council, have spent $5.6 million during the 2014 election cycle.
The article notes that "[s]o far, $3 million has been spent on direct PAC contributions, $1.2 million on independent expenditures and $1.4 million on partisan communications.
More than 80 separate pieces of direct mail, resulting in more than 2.1 million individual mailings, have been sent to more than 417,000 credit union members" in several tight races."
Beyond direct mailings, the article also points out that CUNA is running television, radio and online advertisements for candidates.
Clearly, if tax-exempt credit unions can spend almost $6 million to influence election outcomes, then credit unions can afford to pay corporate income taxes.
Read the article.
Subscribe to:
Post Comments (Atom)
If bankers and their trade associations were not spending millions of dollars to get pro-banker/anti-credit union people into elective office, then it would not be necessary. FYI - Federal credit unions cannot make contributions to political candidates like national banks. It is people making those donations - just like bankers to banker-supported groups.
ReplyDeleteJust look at the shape our economy, safety, global respect, waste of money, neglect of the U.S. constitution, health care, boarder control, privacy, EPA, Dodd Frank Laws, CFPB bullying, Durbin Amendment, mismanagement of the NCUSIF, and much more that this Democrat led administration has done to us. If CUNA uses PAC money to contribute to this party they must be drinking Kool-Aid or being politically correct afraid of retaliation. Take a stand. No money for a group of people who are destroying our country. Credit Union leaders are so afraid of taxation but cannot see the real danger right square in their face and it is not taxation. Face reality and think for yourself and not let other groups such as CUNA, NAFCU, Leagues and Politicians think for you.
ReplyDelete