Credit unions are well positioned after Tuesday’s election into the 116th Congress, CUNA President/CEO Jim Nussle said during CUNA’s post-election webinar Thursday. Nussle was joined by Chief Advocacy Officer Ryan Donovan and Chief Political Officer Richard Gose to break down the election results, which can also be found in great detail in CUNA’s post-election whitepaper.
“In the wake of this election, our goal remains the same, to move forward in the best interests of America’s credit unions,” said CUNA President/CEO Jim Nussle. “CUNA, our political action committee – the Credit Union Legislative Action Committee (CULAC) invested nearly $7 million in 388 House and Senate races this year, we’ve won 349 of them, with the total number to rise as more races are called. That’s an incredibly strong performance and ensures that we will have a credit union friendly Congress. I cannot stress enough the great work all of us did to ensure we had a successful outcome.”
Gose credited CUNA’s Member Activation Program and CUNA’s league partners and credit unions for generating “Get Out The Vote” buzz using CUNA’s “Credit Unions Vote” MAP Campaign, which CUNA launched in September.
Gose said CUNA’s CreditUnionsVote.com website got more than 13,000 hits during the election cycle, more than 300 people registered to vote through the site and an addition 3,500 used the site to find their polling location.
“CUNA, leagues and credit unions invested a record $7 million directly to candidate campaigns, as evenly split as can be between parties,” Gose said. “This isn’t about Republicans or Democrats, it’s about credit unions, and that’s where our ultimate decision is: what’s best for credit unions.
Donovan gave an overview of what credit unions can expect from the 116th Congress. He said CUNA’s first priority is connecting with newly elected members.
“With so many new members of Congress, and many new members of the House Financial Services Committee and House Ways and Means committee, between now and GAC, our focus is education education, education,” he said. “We’ve got to be in districts, in district offices, at swearing-in day here in Washington, on the hill, talking to new members and returning members on why credit unions are different, how we act different, what we do to serve our members.”
Donovan also noted that the now Democrat-controlled House is likely to place an emphasis on oversight and investigation.
The House Financial Services Committee, under likely chair Rep. Maxine Waters (D-Calif.), will likely focus on affordable housing, the Bureau of Consumer Financial Protection and diversity and inclusion in the financial services industry.
Donovan said the Senate is likely to resist legislation coming from the House, while moving at a brisk pace to consider administration and judicial nominees.
CUNA members can register to listen to a recording of the webinar for free, which will be available shortly.