WASHINGTON–Rep. Patrick McHenry, who is chairman of the House Committee on Financial Services and who has been a supporter of credit unions, has announced he will not seek reelection.
McHenry, a Republican from North Carolina, has served in Congress since 2005 and briefly served as Speaker of the House for three weeks over the summer as Republicans tried to agree on a permanent leader. He was known for often pushing back aggressively on government regulations.
“Rep. McHenry has been a strong supporter of credit unions throughout his time in Congress and has helped us advance several important pieces of legislation while leading the House Financial Services Committee,” CUNA President/CEO Jim Nussle said in a statement. “It was a privilege to work alongside him on issues like properly tailored rulemakings and Bank Secrecy Act reform, his door was always open to meet with North Carolina credit unions, and he was a welcome presence at several Governmental Affairs Conferences throughout the years. We wish him and his family the best on their next step.”
NAFCU: Champion for Credit Union
"Chairman McHenry has been a champion for credit union opportunities, innovation, and oversight in his two decades of service in Congress and in his role as Chairman of the House Financial Services Committee," said NAFCU President and CEO Dan Berger. "From taking on the CFPB to navigating the new world of fintechs and crypto, his legacy will be cemented in history as a warrior for Main Street businesses and consumers. At NAFCU, we thank him for his unwavering support and wish him and his family all the best in this new chapter."
CCUL: 'Open to Hearing from CUs'
Added Dan Schline, president and CEO of the Carolinas Credit Union League, “From the day Congressman McHenry took office, he has been actively engaged in financial services issues and always open to hearing from his local credit unions, particularly in his capacity as chairman of the House Financial Services Committee. We extend our appreciation and gratitude to Chairman McHenry for his many years of service and leadership. His leadership will be greatly missed.”
No Next Step Announced
The often bow-tied McHenry, 48, who regularly appeared at credit union events in Washington such as CUNA’s GAC and NAFCU’s Congressional Caucus, has not said what he plans to do next.
“I will be retiring from Congress at the end of my current term,” McHenry said in a statement. “This is not a decision I come to lightly, but I believe there is a season for everything and — for me — this season has come to an end.”
McHenry was first elected to Congress when he was 29 in 2004, after he knocked on approximately 60,000 doors, according to the Associated Press. He is joining more than three dozen House members who have announced they will not seek reelection in 2024,