ARLINGTON, Va.–The first primary of the 2020 presidential election season, the Iowa caucuses, took place last night, and NAFCU said like every other election year it will not be backing any particular candidate and won’t be involved on the political side.
“We do hope to work with candidates who are supportive of credit unions,” said NAFCU EVP/General Counsel Carrie Hunt.
Hunt noted Sen. Elizabeth Warren (D-MA) has expressed support for credit unions, and Sen. Bernie Sanders (D-VT) has appeared at the group’s annual Congressional Caucus.
The key issue, observed Hunt, is always whether expressions of support while a senator translate into actions once in the Oval Office.
“With all candidates we just want to make sure they understand the value and importance of credit unions,” said Hunt.
NCUA Proposals
Separately, in the wake of the NCUA board’s most recent meeting, Hunt said NAFCU is continuing to gather feedback from its members on NCUA’s proposal around subordinated debt and clarity related to rules on CU acquisitions of banks, but is generally supportive of both proposals. “With subordinated debt, we always support having more tools in the book box, and with mergers, anytime there is an opportunity for more clarity, that’s important, said Hunt. “But the devil is always in the details,” cautioned Hunt.