Virginia Credit Union Political Action Committee (VACUPAC)
In today’s political environment, PACs play a critical role in the political process and are a necessary advocacy tool. Funds raised through VACUPAC are distributed to political candidates for the Virginia General Assembly or other statewide political offices who are supportive of credit unions. A portion of our funds are also used at the federal level.
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The Virginia Credit Union Political Action Committee (VACUPAC) is the state-level, non-profit, non-partisan political action committee of the Virginia Credit Union League and its affiliated credit unions.
Political action committees (PACs) are used by trade associations, membership organizations, corporations and others to solicit political contributions from those affiliated with the sponsoring organization or those with a shared interest in a given industry or cause.
In our case, funds raised through VACUPAC are distributed to political candidates for the Virginia General Assembly or other statewide political offices who are supportive of credit unions.
VACUPAC also works hand-in-hand with its federal counterpart, the Credit Union Legislative Action Council (CULAC) — the federal PAC of the Credit Union National Association (CUNA)— to contribute funds to members of the U.S. Senate, U.S. House of Representatives and various congressional leadership funds.
There are many ways to contribute to the only political action committee that represents credit unions on the state level.
- Click here for a detailed overview of giving options for individuals.
- Click here for a list of individual contributors for the most recent year.
- Click here for credit unions that reached various VACUPAC milestones for the most recent year
- Send a contribution via check/share draft directly to the League.
- Chapters collect VACUPAC checks at their meetings.
- Your credit union should have a person designated to accept VACUPAC checks. Some credit unions offer payroll deduction, which makes it even easier to contribute.
- Corporate Support of VACUPAC: State-chartered credit unions can make a direct contribution to VACUPAC. Corporate-level contributions from Virginia-based, state-chartered credit unions will be used exclusively to help state legislators/candidates who have demonstrated that they understand credit unions and that they support our ability to provide the services our members want and need. Under our current system, the majority of our PAC dollars are distributed to federal-level political candidates, owing to the fact that most credit union legislative and regulatory issues are federal-level matters.
For that reason, corporate-level contributions by state-chartered credit unions are a powerful advocacy tool for us, enabling our PAC to more easily support candidates for state offices.
NOTE: State-chartered credit unions’ direct contributions to the Virginia Credit Union Political Action Committee (VACUPAC) are subject to additional tax liability. The credit union will be required to file IRS form 1120 POL per Internal Revenue Code Section 527, in addition to form 990. Please consult your tax professional for additional guidance.
- Political Administrative Fund: This fund allows all credit unions (state and federal) to contribute funds to cover activities associated with advocacy. (For example, these funds have helped cover the cost of hosting legislative events at the Credit Union House of Virginia.)
For the past few years, we've provided credit unions an option to contribute to the Fund through information provided in your dues packet, which you receive at the beginning of each calendar year. But you can contribute at any time. Contact your League's CeJae Vtipilson for details (800.768.3344, ext. 1602 / firstname.lastname@example.org)
- Fundraisers: Credit unions and chapters can raise funds for VACUPAC. Popular fundraisers include sales of candy and White House ornaments, as well as a casual dress fundraiser and golf tournaments.
Funds raised through VACUPAC are distributed to political candidates for the Virginia General Assembly or other statewide political offices who are supportive of credit unions.
VACUPAC also works hand-in-hand with its federal counterpart, the Credit Union Legislative Action Council (CULAC) — the federal PAC of the Credit Union National Association (CUNA) — to contribute funds to members of the U.S. Senate, U.S. House of Representatives and various congressional leadership funds.
In consultation with our external lobbying firm, your League develops a budget allocating VACUPAC funds to state candidates. We use a range of criteria that include whether a legislator sits on a key committee for credit union bills, has introduced bills on our behalf, or has quashed a bill that would harm credit unions. Similar guidelines are used on the federal level.
The non-profit Virginia Access Project keeps tabs on contributions from individuals and groups at its website http://www.vpap.org/. You can also request contribution or VACUPAC budget information from the League directly if you are a member credit union.
The VACUPAC Fundraising Toolkit makes it easy for VACUPAC Ambassadors to share the importance of contributing to the PAC with their colleagues. It also provides relevant forms to aid your credit union in setting up a formal contribution program.
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