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Some Credit Unions Use PACs to Gain Exposure in Political Game

There are only about a dozen credit unions, according to the Center for Responsive Politics, with active federal political action committees, but those that do, find it advantageous.

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WASHINGTON — There are only about a dozen credit unions, according to the Center for Responsive Politics, with active federal political action committees, but those that do, find it advantageous.

Truliant Federal Credit Union President/CEO Marcus Schaefer said, “The main advantage is we’re able to raise money and make contributions in the name of Truliant…We understood that we had to be politically involved.” Schaefer’s credit union learned a valuable lesson as the target of the lawsuit that sparked the battle to pass H.R. 1151. He drew some parallels between that fight and the recent lawsuit forcing non-multiple common bond credit unions to stop adopting underserved areas.

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