Rep. Ben McAdams (D-Utah) Defeated in Reelection Bid; Was Supported by Credit Union Trade Groups

Rep. Ben McAdams (D-Utah), a freshman member of the House Financial Services Committee, on Monday conceded defeat to former National Football League player, Republican Burgess Owens, in their tight race for Congress. Owens received 47.5% of the vote, according to election results tabulated by state officials, while McAdams received 46.93% of the vote. The two national credit union trade groups had supported McAdams, with CUNA’s political action committee donating $10,000 to his campaign and NAFCU contributing $1,000. The race garnered national attention since Owens was an outspoken supporter of President Trump’s reelection effort. Last month, McAdams opposed the latest version

Pandemic Has Not Slowed Credit Union PACs

The coronavirus pandemic has slowed down much of Washington. The halls of the Capitol appear empty. Charlie Palmer Steak, a restaurant that usually serves power lunches to the well-connected, is temporarily shuttered. Lobbyists are meeting on Zoom and other similar platforms. But the political fundraising machine grinds on. The political action committees operated by the nation’s two largest credit union trade groups, the Credit Union National Association and the National Association of Federally Insured Credit Unions, continue to fuel that machine with millions of dollars in campaign contributions to House and Senate candidates across the country. By the end of