Credit Union Trade Association Cites Long Working Relationship, Past Support as Reasons for Endorsement
Richmond, Va. (PRWEB) June 26, 2014
The Virginia Credit Union League, the state trade association for the Commonwealth's 164 member-owned credit unions, today announced its endorsement of Barbara Comstock, who is seeking Virginia's 10th Congressional District seat.
The League is the leading advocate for the state's credit unions and offers a wide range of products and services that support credit unions in their mission to serve members.
The endorsement follows face-to-face interviews between candidates for the 10th District seat and representatives of the League’s Board of Directors and Governmental Affairs Committee. The candidates also completed a questionnaire that covered a variety of issues of importance to credit unions and their members, including tax reform, financial literacy and member business lending.
"Credit unions have had a long and productive relationship with Del. Comstock during her tenure in the Virginia House of Delegates," said Rick Pillow, president of the Virginia Credit Union League. "As a member of the key Virginia House committee that hears credit union legislation, she's proven time and time again that she is a friend to credit unions and their members. We know we can count on her to continue protecting the interests of credit union members as a member of Congress."
In response to this endorsement, Del. Comstock said, "I have worked closely with our credit unions and their leadership, first, as a senior aide to Congressman Wolf, and secondly, in my tenure at the Virginia House of Delegates. I am honored to have their support and I look forward to continuing to work with them as Congresswoman for the 10th District. I know how important credit unions are to the tens of thousands of members they serve in the 10th district, including my family, and I appreciate their support."
Del. Comstock has expressed her support for preserving the credit union tax exemption, which enables credit unions to better serve the needs of working families by offering better rates and fewer fees. Comstock also noted that she would give due consideration to changes in federal law that would allow credit unions to make more loans to small businesses and expressed strong support for lessening smaller financial institutions' regulatory burden.
About Virginia's Credit Union System
Virginia-based credit unions serve 8.5 million members worldwide and hold more than $103 billion in combined assets, roughly 9 percent of all the assets held by the U.S. credit union movement. As of March 31, 2014, Virginia-based credit unions held $71.6 billion in loans and $80.3 billion in savings.
About the Virginia Credit Union League
The Virginia Credit Union League is the state trade association for the Commonwealth's 164 member-owned, not-for-profit credit unions. For 80 years, the League has provided training and education services, lobbied lawmakers on behalf of credit unions, and served as an information and operations resource. For more information about the League, visit http://www.vacul.org.