Speciality Coins are available for members to purchase and the income goes to the political action committee.
What is a Political Action Committee (PAC)?
A PAC is a group of individuals, to include an association, committee or organization, that is established for the primary purpose of advocating the election or defeat of one or more clearly identified candidates.
Credit union members in Kentucky have joined together to form two Kentucky Credit Union Political Action Committees-a State PAC and a Federal PAC. The State PAC supports credit union-oriented candidates for the state legislature. The Federal PAC supports candidates for federal offices. Since the PACs were formed, the contributions of its members have helped pro-credit union candidates from both the Democratic and Republican parties.
The Kentucky Credit Union League Members political action committee, KYCUPAC, raises funds from individuals and uses its resources to support credit union friendly candidates who are running for federal and state office. Participation is voluntary and contributions are not tax-deductible.
What happens in the Kentucky General Assembly and in the United States Congress has a direct impact on credit unions, members and employees. KYCUPAC works very hard to develop relationships at both the State and Federal level. They have done an excellent job so far and their continued strength depends on our support. Banks raise and contribute a least ten times what credit unions do. PAC makes every dollar count, and they need our help.
In order to ensure that elected officials who enact legislation understand credit unions and that those who already do remain in position to act on our behalf, we must build a strong base of monetary support. Credit unions canít give money in their own name to KYCUPAC. Credit unions can raise funds from volunteers, staff and credit union members. Individuals may contribute up to $5,000 per year to PAC. Contributions in excess of $100 must be made by check. Contributions are not deductible for either federal or state income tax purposes. If you wish to support the Credit Union Movement and make a contribution, please ask a Savings Officer to add your donation the Political Action Committee account at Service One.
Service One Credit Union employees have been very active in raising money for PAC for many years. Some of the ways we have raised funds:
Bake Sales, Car Washes, WKU Wednesday, March Madness (Basketball Games), Various Raffles, Run for the Roses (KY Derby), Cookbooks, and Coin Sales.
From January 1 to September 30, 2011, SOCU employees and members have raised $1198.10 with employee contributions and coin sales. The cost of the coins are to be deducted from this amount.
Thanks to all of our wonderful members for helping with our fund raisers!
For 2011, we will continue the sale of the coins from each mint. Click the link above or the one on the front page to order your coins to be shipped directly to your home. A portion of the sale will go to KYCUPAC. If you have been searching for a speciality coin click the link and search or, please give Myra Dwyer a call at 270-796-8500, extension 3022.
You may visit these web sites to learn more about PAC: