ALEXANDRIA, Va. — NCUA issued a second opinion letter concerning federal credit unions' political activities after a request for "further elaboration" from CUNA.
In a letter late last year (06-0928), NCUA advised a federal credit union on the permissible political activities of federal credit unions, such as hosting events for congressional candidates.
Legal Opinion Letter 07-0222 states that while the Federal Election Campaign Act of 1971 prohibits federal credit unions from making contributions, "There are several exceptions to the [Federal Election Commission's] prohibitions and definitions of the terms 'contribution' and 'expenditure,' many of which may apply to communications or solicitations restricted to an FCU's members."
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