Kaine is running for the post that will be left vacant by retiring Democratic Sen. Jim Webb, and will face former Virginia Gov. and U.S. Sen. George Allen, a Republican who CULAC supported in his unsuccessful 2006 senatorial bid with a $6,000 donation.
“Decisions made in Washington have a direct impact on credit unions’ ability to provide affordable financial services to their member-owners,” said Rick Pillow, league president. “Gov. Kaine will be an effective partner and understands the difficulty of the legislative and regulatory environment. He is the best choice to help stimulate our economy and get our country back on track.”
In a release, the Virginia league said Kaine supports credit unions and community banks in the call for fair and balanced regulation that maintains the safety and soundness of the nation’s financial system, without unduly burdening the nation’s small community-based financial institutions.
“I have great respect for credit unions and their ‘people helping people’ philosophy,” Kaine said in accepting the endorsement. “The economy and the creation of jobs is the central focus of my campaign, and credit unions and other community-based financial institutions will help drive the economic recovery.
“Washington needs to ensure the nation’s ‘Main Street’ financial institutions can remain strong, innovative and vibrant for the good of working Americans and our communities.”
The Virginia Credit Union League said it represents 184 credit unions and the 3 million members they serve.