John Magill, CUNA executive vice president of government affairs, said CUNA's Political Action Committee,CULAC, supported the ill-fated re-election bid of House Majority Leader Eric Cantor (R-Va.)
Cantor lost to economics professor Dave Brat, a tea party-supported candidate, in the Republican primary race on June 10 by a 56% to 44% margin.
"Eric has been and continues to be a friend to credit unions," Magill said, noting that he participated in CUNA's annual Governmental Affairs Conference multiple times.
"We had a great working relationship with him and his staff. He's worked closely with the Virginia Credit Union League," Magill added.
"The reason we won this campaign, there is just one reason, and that's because dollars do not vote — you do," Brat told his supporters on Tuesday night.
According to Magill, CULAC donated $6,000 to Cantor's re-election committee for the 2014 midterms and $10,000 to his leadership PAC.
CULAC did not fund an independent expenditure.
"I don't think most people in this town thought it was needed," Magill said.
"We're prepared to pick up and move on regardless of the circumstances. While we hate to see him defeated, we all have to prepare for a new day for credit unions," he added.
According to Magill, it is too early for CUNA to decide whether to support Brat in the general election.
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