During the first five months of 2011, CUNA’s political action committee received $502,266 in contributions toward its efforts to influence the outcome of political campaigns, and NAFCU’s fundraising efforts netted $53,669, according to reports filed with the Federal Election Commission.
Trades report contributions to congressional lobbying efforts.
CUNA’s PAC raised $93,774 in April and NAFCU’s raised $14,250, according to forms filed with the Federal Election Commission.
If money, as a former state official said, is the mother’s milk of politics, neither major CU trade is in danger of being lactose deprived any time soon.
The sluggish economy caused CUNA and NAFCU PACs to raise less money, but they each had very different spending patterns during last year's campaigns.
CUNA's and NAFCU's political action committees spread their financial largesse generously this campaign cycle, though they have been raising and spending less than they did two years ago,
Credit union stalwart Rep. Paul Kanjorski (D-Pa.) saw his 26-year congressional career end, yet Senate Majority Leader Harry Reid (D-Nev.) survived yesterday's election which gave the Republicans large gains in both chambers.
The Republicans will gain 55 seats in the House - recapturing the majority and bring down several key credit union supporters, according to an analysis released today by political scientist Larry Sabato.
CUNA's PAC had $270,933 in its coffers as of last week and NAFCU's PAC had $215,631, according to reports they filed this week with the Federal Election Commission.
CUNA's political action committee made more than $100,000 worth of independent expenditures this week, bringing its total since September to $837,328, according to reports filed with the Federal Election Commission.