WASHINGTON – Several important congressional credit union allies were headed towards reelection in close races last night, ensuring that credit union legislation will be forwarded in the next Congress.
Among them are: Colorado Democrat Ed Perlmutter, a champion of the member business loan and other bills; Brian Bilbray the California Republican who is a long-time credit union supporter; and California Democrat Brad Sherman, was a co-sponsor of the MBLs bill and legislation to allow credit unions to raise supplementary capital, and also fought to limit the impact of the Dodd-Frank Act on credit unions. Sherman was thrown into a tough race with another Democrat House incumbent, Howard Berman, because of the state’s redistricting.
Also, California Republican Ed Royce, a longtime credit union supporter who has sponsored credit union legislation all the way back to HR 1151, the 1998 CU Membership Access Act, will be returning to the House after winning reelection yesterday.
In addition, Alabama Republican Spencer Bachus, the chairman of the all-important House Financial Services Committee, won reelection easily yesterday, but not without critical credit union assistance during a tough primary when CUNA send out independent direct mailings on his behalf in the primary’s final days.
In addition, two candidates for New York House seats, Dan Maffei and Republican Christopher Collins, both recipients of independent expenditures from CUNA, appear to win their races last night.
In Iowa, CUNA had a split decision on candidates it supported with independent expenditures, winning with incumbent Republican Tom Latham, and losing with challenger Democrat Christie Vilsack.
Also, North Carolina Democrat Larry Kissell, a big credit union supporter who CUNA supported with a direct mailing in the final days of the campaign, went down to defeat last night.
Also headed for reelection last night were Montana Democratic Sen. Jon Tester, who fought for credit unions against the Durbin amendment’s cap on debit fees; and Missouri Democratic Sen. Claire McCaskill, who worked with Tester in the unsuccessful bid to repeal the Durbin amendment and has sponsored the bill to eliminate the dual fee disclosures at ATMs.
Two former governors were also elected to the Senate last night with official endorsements from state credit union leagues, Democrat Tim Kaine of Virginia and independent Angus King of Maine.