R.I., Ill. governors-elect among positive results for CUs at state level

November 5, 2014

WASHINGTON (11/6/14)--Credit unions saw several friendly faces take state office during Tuesday's election, including several governorships. While the Credit Union National Association does not get involved in state-level races, state leagues have been engaged in a number of races.

Two new governors will bring a legacy of credit union support to their respective governor's mansions, Rhode Island's Gina Raimondo and Illinois's Bruce Rauner.

As state treasurer, Raimondo was a recipient of CUNA's Desjardins Financial Education Award for state government policymakers in January. She was recognized by launching a financial literacy initiative that included nearly 20 credit unions, nonprofits and small businesses.

"The credit unions have been great partners and have played an instrumental role in the success of this program," Raimondo said in a statement when she was given the award. "Together, we are moving Rhode Island forward one person at a time by helping people become confident about their financial future."

The Desjardins award is awarded by CUNA's state credit union subcommittee in recognition of leadership for financial education at the state level.

In Illinois, Republican governor-elect Rauner is another supporter of credit unions.

"The Illinois Credit Union League worked with Bruce Rauner throughout the campaign, and is very confident when it comes his support of credit union issues, including keeping credit unions' tax status," said Richard Dines, CUNA's assistant vice president of state and league affairs.

Additionally, in September, Rauner made a $1 million investment with Southside Community FCU of Chicago, with $3.5 million in assets. According to the Chicago Sun-Times, $200,000 was a donation, and $800,000 was deposited into an interest-bearing account.