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 (KYCUPAC) – a State PAC and a Federal PAC. KYCUPAC raises funds from individuals and uses these resources to support credit union-friendly candidates who are running for federal and state offices. Participation is voluntary and contributions are not tax-deductible.
Since the PACs were formed, the contributions of its members have helped pro-credit union candidates from both the Democratic and Republican parties. 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 hard to develop relationships at both the State and Federal levels, and every dollar contributed is important. Bank supporters raise and contribute at least ten times what credit union supporters contribute.
KYCUPAC’s continued success is dependent upon our support. To ensure officials who understand credit unions are elected and those who support credit unions remain in office, we must build a strong base of monetary support. Credit unions can’t give money directly to KYCUPAC. Credit unions can raise funds from credit union volunteers, staff and 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 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 to the Political Action Committee account at Service One. Service One Credit Union employees have been active in raising money for PAC for many years. Some of the ways we have raised funds include Bake Sales, Car Washes, WKU Wednesday, March Madness, candy bar sales, raffles, Run for the Roses (KY Derby), Cookbooks, and Collector Coin Sales.
From January 1 to December 31, 2020, Service One associates and members raised $2,000.00, with contributions from associates, candy bar sales and other fundraisers.
Thanks to all of our wonderful members for helping with our fundraisers!
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