And CUNA's PAC, has spread its largesse to several lower-profile races involving open seats and one involving a freshman House member who is being opposed by a longtime supporter of credit unions. In Kansas' 2nd District, the PAC spent $114,720 to produce and broadcast advertisements on behalf of Kansas Treasurer Lynn Jenkins (R) who is challenging freshman Democratic Congresswoman Nancy Boyda. CUNA Senior Vice President of Political Affairs Richard Gose said Jenkins has been a longtime supporter of credit unions and Boyda was not a cosponsor of several measures of interest to credit unions, such as the Credit Union Regulatory Improvements Act. By contrast, NAFCU's PAC hadn't given any money to nonincumbents.

“We've been fortunate to have raised enough money to not only give in traditional contributions but to make independent expenditures where you can give more money and have more impact,” said Gose.

Although most political handicappers predict Democrats will increase their majorities in both the House and Senate, the PACs of the two major credit union trade associations are hedging their bets.

CUNA's PAC, Credit Union Legislative Action Council, has given 52% of its money to Democrats and 48% to Republicans.

NAFCU/PAC has dispersed 62% of its money to Democrats and 38% to Republicans.

NAFCU Political Director Dillon Shea, said they've raised and spent more this year than ever before and their strategy has been to “help our friends on both sides of the aisle and encourage our members to help them with money and by volunteering and other activities.”

Fortunately for the credit unions, members of Congress have a tendency to remember their political friends. That will be especially important next year as lawmakers begin the task of revamping some of the regulations that impact financial services.

While Senate Banking Committee Chairman Christopher Dodd (D-Conn.) and House Financial Services Committee Chairman Barney Frank (D-Mass.) are both favorably disposed toward credit unions, they need the support of and help from many members of Congress.

In the case of CULAC, it has given $2.4 million to candidates and committees this election cycle, making it the 13th largest PAC in terms of contributions. It has raised $3.7 million.

NAFCU's PAC has raised $353,320 and spent $385,152. They aren't running a deficit, but had $112,537 in the bank when the campaign cycle started in January 2007.

The American Bankers Association PAC–BankPAC–is the eighth largest PAC, it has given $2.6 million during the 2007-2008 cycle. It has raised $3.6 million.

CUNA and NAFCU's PACs have both given the maximum allowed to one of the credit union movement's best friends in Congress–Rep. Paul Kanjorski (D-Pa.), who is fighting for his political life in one of the tightest races this cycle against Hazleton Mayor Lou Barletta.

Individuals who have given $200 or more and PACs affiliated with credit unions have given Kanjorski $30,937, the second highest amount of money. The most money ($64,700) went to Rep. Ed Royce (R-Calif.) another credit union backer, who is not considered in trouble.

But those numbers are just part of the story of credit unions' involvement there. Credit union members have canvassed and done other volunteer work on behalf of Kanjorski and Gose said credit union members “have given a lot of small contributions” to Kanjorski.

CULAC also spent $298,741 on independent expenditures in races in Kansas and Missouri.

In Missouri's 9th District, the PAC spent $184,021 on advertisements and brochures on behalf of state Rep. Judith W. Baker, a Democrat who has been supportive of credit unions during her tenure as a legislator. Her opponent, former state House Financial Services Committee Chairman Blaine Luetkemeyer, was not supportive of credit unions during his tenure, according to Gose.

In the Senate, five incumbents who are considered among the most vulnerable–Susan Collins (R-Maine), Elizabeth Dole (R-N.C.), Mary Landrieu (D-La.), Gordon Smith (R-Ore.) and John Sununu (R-N.H.)–have all been favorites of credit unions. They have received $11,250, $17,000, $12,500, $10,850 and $13,250, respectively, from individuals and PACs affiliated with the movement in the 2007-2008 cycle.

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