WASHINGTON–Michigan Sen. Debbie Stabenow (D), praised as a long-time supporter of credit unions, has announced she will not seek reelection in 2024.
“Inspired by a new generation of leaders, I have decided to pass the torch in the U.S. Senate,” Stabenow said in a statement. “I am announcing today that I will not seek re-election and will leave the U.S. Senate at the end of my term on January 3, 2025.”
The decision by Stabenow, 72, will put a crucial swing state in play in the 2024 election when it comes to control of the Senate. Stabenow has served in Congress since 1996.
‘Stood By Credit Unions’
“Sen. Stabenow stood by credit unions through many issues during her time in the Senate, including repeatedly expressing strong support for the credit union tax status and sharing our concerns over NCUA’s original risk-based capital rule,” said CUNA President/CEO Jim Nussle. “We thank her for her willingness to work with credit unions, and wish her the best going forward.”
CUNA added that Stabenow re-affirmed her commitment to preserving the credit union tax status through tax reform discussions over the previous decade, saying it “ensures that community-based institutions can continue to provide quality financial services to their members,” and noting that she herself is a credit union member.
She also credited credit union advocates for their strong engagement with policymakers and urged them to continue their advocacy efforts on behalf of members, CUNA noted.
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