NAFCU and CUNA's political action committees each entered 2012with six-figure amounts in their coffers as they gear up for anelection year that features a large number of competitive races inthe Houseand Senate.

CUNA's Credit Union Legislative Action Council ended the yearwith $797,977 on hand, up from $642,293 at the beginning of theyear, according to a report filed with the Federal ElectionsCommission.

The PAC, which was the 10^th largest donor to federalcandidates last year according to the Center for ResponsivePolitics, raised $1.8 million last year.

It made $1.4 million in contributions to federal candidates andcommittees last year. Of the $977,900 it gave to House and Senatecandidates, 51% went to Republicans and 48% went to Democrats,according to the center, a Washington-based research and advocacygroup. By contrast, the PAC of the American Bankers Association,the seventh-largest donor to federal candidates, donated $1.08million to federal candidates last year, 75% to Republicans and 25%to Democrats.

CUNA Senior Vice President for Political Affairs Richard Gosesaid they hope to raise enough money so they can not only makecontributions to candidates and committees but retain the option todo independent expenditures and partisan communications, which theydid in 10 House and Senate races in the 2010 election. He declinedto say where they might participate that way this time but notedthat “we are always polling and seeing where we can have the mostimpact.''

NAFCU's National Association of Federal Credit Unions PoliticalAction Committee had $255,113 on hand at the end of the year, upfrom $185,470 at the beginning of 2011. It raised $212,985 lastyear and made $193,401 in contributions to federal candidates andcommittees.

During December, both PACs gave money to the reelection campaignof Senate Banking Committee Chairman Tim Johnson (D-S.D.), eventhough he doesn't have to face the voters until 2014. CULACcontributed $2,500 and NAFCU's PAC gave $1,000.

Both PACs also contributed to ERIC PAC, the leadership PAC ofHouse Majority Leader Eric Cantor (R-Va.). CUNA's PAC gave $5,000,NAFCU's gave $1,000.

NAFCU's PAC gave $1,000 to Defending America PAC, the leadershipPAC of Sen. Richard Shelby (R-Ala.), the top member of his party onthe Senate Banking Committee. Shelby hasn't been a huge supporterof credit unions but is in line to become chairman of the panelagain next year if, as some analysts predict, the GOP wins controlof the Senate.

The leadership of the House Financial Services Committee isdefinitely going to change after this November's election. ChairmanSpencer Bachus (R-Ala.) has to give up the post because GOPrules allow someone to serve a maximum of six years as chairman orranking member of a panel.

If the GOP keeps control, several members could run forchairman, including Reps. Shelley Moore Capito (R-W.Va.), JebHensarling (R-Texas) and Ed Royce (R-Calif.).

Both CUNA's and NAFCU's PACs have given gave money to all thoselawmakers.

Rep. Maxine Waters (D-Calif.) is next in line on the basis ofseniority to succeed the retiring Rep. Barney Frank (D-Mass.) asthe panel's top Democrat. However, she could be challenged byother members of the panel. Both trade associations havegiven Waters' campaigns money. Several credit union supporters facepotentially tough reelection races this year. Rep. Brad Sherman (D-Calif.) has been placed in the same district asRep. Howard Berman (D-Calif.) in the Los Angeles area as a resultof redistricting.

Sen. Jon Tester (D-Mont.), who led the unsuccessful effort todelay implementation of the Durbin amendment on interchange, isbeing challenged by Rep. Denny Rehberg.