Banker Super PAC Endorses Three Endangered Republican Senators

Encouraging bankers to create a “money bomb” of at least $300,000 for each candidate, the “Friends of Traditional Banking” Super Political Action Committee has endorsed three endangered Republican senators for reelection.

Friends of Traditional Bankers endorsed Republican Sens. Joni Ernst of Iowa, Thom Tillis of North Carolina, and Cory Gardner of Colorado.

Unlike a traditional PAC, Friends of Traditional Banking does not contribute directly to political candidates. Instead, the Super PAC endorses two or three candidates they want bankers across the country to support for relection.

The Super PAC is a vehement opponent of the credit union industry.

“When tens of thousands of bankers around the country all donate what they can to just three key candidates, they can each see a money bomb of $300,000 – $500,000 that can really tip the scales in these tight races,” the group said, in announcing their endorsements. 

The group’s website and Facebook page contain direct links to the three senators’ campaign committees.

In endorsing Ernst, the group said the senator is “a stalwart in her support of community banks,” noting that polls show that Ernst and her Democratic opponent, Theresa Greenfield are locked in a tight race.

The group said that Tillis is a “champion” on the Senate Banking Committee and polls show his race with Democrat Cal Cunningham is extremely close.

The Super PAC said it helped elect Gardner to the Senate and said bankers have “no better friend in Congress.” Gardner is locked in a tight race with former Democratic Gov. John Hickenlooper.

The three Republican senators also have received financial support from credit union Political Action Committees. Gardner’s last financial disclosure form identified him as a member of three credit unions.

Friends of Traditional Banking says on its website that there are national and state banking PACs that contribute to a wide range of candidates, but the group urges bankers to also focus on the three senators.

“We have tellers sending in $20 and bank owners sending in $1,000,” the group said. “What can YOU kick in to the three above to save the Senate for our industry and American prosperity?”


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