The 2012 election was a good one for credit unions with the movement having success in seeing credit union-friendly members elected to Congress.
In a conference call, CUNA President and CEO Bill Cheney said that with 33 seats up in the Senate, CUNA-backed candidates won 26 out of the 27 seats where CUNA took part.
In the House, Trey Hawkins, CUNA vice president of political affairs, said credit union-backed candidates won in 96 percent of the 360 seats where the association and leagues were active. In addition, credit union-friendly candidates won 50 of the 59 open seats in the House.
“All in all, it was a terrific day on behalf of credit unions,” Hawkins said.
In particular, credit unions scored a surprising victory in Montana where Democrat Jon Tester, sponsor of the 2011 legislation that would have delayed the Durbin amendment, won a race few gave him a chance in.
CU Journal called it one of the most expensive Senate campaigns ever. Tester was backed by an unusual coalition including banks, credit unions and credit card companies that was forged during the fight over the Durbin amendment.