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News Now

CU System
Voters go for candidates who back CU issues
WASHINGTON (9/14/10)--An “overwhelmingly positive response” by voters in a poll indicates they would support a candidate who fights against banks and makes it possible for credit unions to provide loans to small businesses in their respective communities. The surveys are sponsored by the Credit Union National Association (CUNA) and conducted by research organizations Frederick Polls LLC of Arlington, Va., and Voter/Consumer Research of Washington, D.C. The surveys indicate that no less than three in five voters in separate polls of voters in eight congressional districts around the country said they would have a “positive reaction” to a candidate fighting against banking interests in support of more credit union business lending. Legislation pending in the House and Senate would raise the cap on credit union business lending to their members from 12.2% of assets to as much as 27.5%. The nation’s organized banking industry opposes the legislation. The polls were conducted Aug. 19-24, using identical questionnaires in selected congressional districts in Colorado, Kansas, Minnesota, Ohio, Oregon, South Dakota, Texas and Washington. The question was posed to 200 registered voters in each state, for a total of 1,600 interviews. The “positive reaction” ranged from a low of 62% (in Minnesota) to a high of 77% in Texas. The “negative reaction” ranged from a high of 15% (in Minnesota) to a low of 9% (in South Dakota). “The polling clearly shows that congressional incumbents and candidates will have warm support from voters if they take on the banks in support of more business lending by credit unions,” said CUNA President/CEO Bill Cheney. Cheney also pointed out that the recent polling matches findings of a national survey conducted early this year by the same firms. That survey asked voters if they would support legislation giving credit unions more business lending authority, in light of projections that it would inject $10 billion into the economy and create more than 100,000 new jobs. Voters in that poll strongly favored removing the cap on credit union business lending, with 69% in support and 25% opposed.


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