The Credit Union Association of Oregon is jumping into the November race for state treasurer giving formal support to the Democrat incumbent, Ted Wheeler.
Wheeler, a former banker and ex-CEO of Multnomah County, was named to the job last March by Gov. Ted Kulongoski following the death of Ben Westlund.
CUAA said its board is "very impressed with the Treasurer's interest in our issues and his understanding of the credit union movement."
Moreover, the association "is particularly pleased with the Treasurer's support of increasing financial literacy among Oregon students" noting also that Wheeler would be "diligent" in seeing that public funds legislation passed by lawmakers last March is implemented "in a manner consistent with the intent of the law."
The new public funds law, set to take effect in two years and which had drawn banker opposition, would lift the current $250,000 limit on deposits placed in CUs.
In its Wheeler statement, CUAO said "our board believes Treasurer Wheeler has a strong understanding of the financial marketplace and the role that credit unions play in it. He has earned our unanimous support in his bid for election." The statement was drafted by Pam Leavitt, vice president of governmental affairs.