Senate Minority Leader Harry Reid (D-Nev.) announced on Friday that he is not seeking re-election in 2016 and endorsed Sen. Charles Schumer (D-N.Y.) to assume his post as leader of the Senate Democrats.

“Senator Reid has a long history of credit union support throughout his career,” CUNA President/CEO Jim Nussle said. “On behalf of more than 102 million credit union members, I thank him for his leadership over the years and wish him all the best.”

Reid predicted that Schumer would be elected to replace him as the Democratic leader in 22 months.

“One reason that will happen is because I want him to be my replacement,” he said on Friday.

Since 2000, CULAC contributed $46,000 to Reid's leadership Political Action Committee and $28,266.63 to “Friends for Harry Reid.”

CULAC also funded an independent expenditure for Reid in the 2010 election for $152,535.30, which consisted of direct mail.

In total, CULAC spent $226,801.93 in support of Harry Reid's campaigns dating back to 2000.

NAFCU said it contributed $5,000 to Reid's re-election campaign in 2010 through its PAC. Reid was elected in 2010 with 50.3% of the vote.