On Thursday, September 19, The Virginia Credit Union League officially announced their support and endorsements for Terry McAuliffe (D) for governor and state senator Ralph Northam (D) for lieutenant governor.
Of Virginia’s 172 member-owned credit unions, the Virginia Credit Union League is the number one leader. The union has conducted interviews with the candidates and has asked them specific questions; they favored Terry McAuliffe’s answers. Some of these questions dealt with topics such as tax reform, public deposits, financial literacy and member business lending.
Rick Pillow, president of the Virginia Credit Union League is quoted in a press release by Lewis Wood, Vice President of Public Relations and Communication of the McAuliffe campaign, as saying, “Terry McAuliffe understands the unique role of not-for-profit credit unions in the marketplace and appreciates that some 3 million Virginians count on us as their financial services partner. Credit unions face a host of challenges at both the state and federal levels, and Terry’s commitment to support us in Richmond and in Washington proved he truly is a friend to credit unions and the hard-working Virginians that depend on us.”
McAuliffe supports changes in federal law that would allow credit unions to make more loans to small business as much as he supports preserving the credit union tax exemption.
Senator Ralph Northam shares these same views, pointing to why the union has chosen to also endorse him for lieutenant governor.