CUNA election whitepaper highlights election’s impact on CUs

Despite the divided Congress that will take office in January, CUNA, leagues and credit unions are well-positioned in a challenging legislative environment, CUNA noted in its post-election whitepaper, released Thursday. Titled “Credit Union-Friendly Majority in a Divided Congress,” the paper provides a comprehensive breakdown of credit union involvement in the election, what the results mean and CUNA’s plans for the 116th Congress.

"CUNA will continue educating Members of Congress on the credit union difference and work to ensure that credit unions are part of their economic agendas," said CUNA President/CEO Jim Nussle. "Fortunately, credit unions have champions in Congress who understand and are committed to the credit union difference.

CUNA, leagues and credit unions invested nearly $7 million in 388 House and Senate races this year, winning 349 of them, as of Thursday afternoon.

 Other highlights of the whitepaper include:

  • How CUNA investments in credit union champions helped make a difference in tight races, including those of Sens. Joe Manchin (D-W.V.), Jon Tester (D-Mont.) and Cindy Hyde-Smith (R-Miss.), and Reps. Steve Chabot (R-Ohio), Rodney Davis (R-Ill.), Mike Bost (R-Ill.), Tom O’Halleran (D-Ariz. ) and Ted Budd (R-N.C.);
  • How CUNA support for candidates vying for open Congressional seats led to at least 45 victories, as of Thursday afternoon;
  • What leadership elections in the House look like after the party switch, including on the Financial Services, Ways and Mean, Energy and Commerce, Appropriations and Judiciary Committees;
  • What the increased Republican majority in the Senate means for the 116th Congress, and the 2020 election, as well as leadership in the Banking, Finance, Commerce, Judiciary and Appropriations Committees;
  • What could happen between now and the end of the year in the “lame duck” session; and
  • The election’s impact on NCUA and the Bureau of Consumer Financial Protection.