If money, as the late California Treasurer Jesse Unruh said, is the mother’s milk of politics, neither CUNA nor NAFCU is in danger of being lactose deprived any time soon.
CUNA’s Credit Union Legislative Action Council had $305,366 on hand at the end of March, the end of a three-month period in which it gave $397,000 to federal candidates and committees and raised $328,921.
NAFCU’s National Association of Federal Credit Union Political Action Committee had $212,938 at the end of last of month. During the first three months of the year it gave $57,000 to federal candidates and committees and raised $34,772.
Both PACs filed reports with the Federal Election Commission this week.
Among the lawmakers to whom CULAC give money are House Financial Services Committee Chairman Spencer Bachus (R-Ala.), Rep. Gabrielle Giffords (D-Ariz.) and House Judiciary Committee Chairman Lamar Smith (R-Texas). Giffords is recovering from brain injuries she suffered in a shooting rampage in January.
Among the lawmakers to whom NAFCU’s PAC gave money are: Bachus, Rep. Jeb Hensarling (R-Texas), a senior member of the House Financial Services Committee (they gave money to Hensarling’s campaign committee and his leadership PAC), and Sen. Jon Tester (D-Mont.), who is leading the fight to delay the implementation of the Federal Reserve’s interchange rule.