Credit Union Legislative Action Council (CULAC)
Vermont Credit Union Political Action Committee (Vermont CUPAC)
Learn more about credit union political advocacy at the federal level by visiting CULAC at http://www.cuna.org/culac/.
Vermont CUPAC is a state-level political fundraising entity for Vermont credit unions. Individual donations are used to make campaign contributions to candidates for state-level office who are supportive of credit union interests. The combination of Vermont’s campaign finance law and federal laws place certain limits on contributions made to Vermont CUPAC:
- Any individual may contribute up to $2,000 to CUPAC in any one election cycle (this does not preclude separate contributions directly to candidates);
- State credit unions may make corporate contributions to CUPAC not to exceed $2,000 per election cycle, but contributions over $100 are subject to a 35% federal tax reported on IRS Form 1120 POL;
- Federal credit unions may not contribute to any campaign or political action committee;
- All credit unions may provide financial support for the administration of CUPAC without any tax. Administrative support can be used to cover expenses for a fundraiser, pay for printed materials, etc. Such funds never go to support any candidate;
- Vermont CUPAC funds are separate from the Association of Vermont Credit Unions and stringent reporting requirements to the Vermont Secretary of State are followed, including the necessity to report name and mailing address of all contributors, regardless of amount.
Political Advocacy Honor Roll (through 12/31/17)
Those listed below are demonstrating their commitment to the preservation of credit union uniqueness through financial contributions to political action (CULAC & VT CUPAC). They will be recognized for their support at the 2018 Association Annual Meeting.