The Board of Trustees for the Credit Union Legislative Action Committee (CULAC), the PAC of the Credit Union National Association (CUNA), voted this week to resume political contributions to federal legislative candidates.
“Credit unions are dedicated to promoting financial well-being for all, and CULAC remains committed to supporting lawmakers who understand and appreciate our mission,” said Jeff Olson, CULAC Chair and President/CEO of the Dakota Credit Union Association. “The pause gave us much-need time to reflect and to listen to our donors and key stakeholders. After much consideration, it’s clear our members want to continue to support our electoral work while ensuring candidates supported represent the integrity and values of the credit union movement.”
The board further affirmed the PAC’s longstanding practice of not donating to presidential campaigns.
CULAC political contributions are funded entirely through voluntary donations from credit union members, staff, and volunteers. Contributions to candidates are made through the cooperative decision of the PAC and state League operating where a candidate is running.
For over 40 years, CULAC and CUNA have been the credit union movement’s strong political backbone, engaging in both candidate contributions and independent expenditures (IEs). CULAC has one of the most bipartisan records in the country. In the 2020 general election, 387 CULAC-backed candidates won elections to Congress, marking a 96% success rate for the organization’s election efforts.