WASHINGTON–Two credit union trade groups have responded to the announcement by President Joe Biden that he will not seek reelection by issuing statements reflective of their neutrality in presidential races.
While America’s Credit Unions, and prior to that NAFCU and CUNA, support congressional candidates with both money and manpower, the trade group—along with the Defense CU Council-- has always refrained from taking a position in presidential contests.
"America’s Credit Unions is committed to our advocacy efforts on behalf of credit unions and the members they serve,” ACU President Jim Nussle said in a statement. “As the general election cycle unfolds and changes emerge, our engagement with elected officials and candidates will continue to ensure focus on empowering credit unions to better meet the needs of Main Street America."
Added Defense CU Council President and CEO Tony Hernandez, “DCUC appreciates President Biden's lifetime of public service and looks forward to working with his administration through the remaining days of his administration. It is important for credit unions and their members to participate in our elections to ensure the best outcome for our country and our industry."
‘Greatest Honor of My Life’
Biden, 81, made his announcement following strong encouragement from a number of influential players in the Democratic party following a poor performance in a debate with Donald Trump and criticism the president had gotten to old and frail for the job.
Biden has endorsed Vice President Kamala Harris for the post, calling her an “extraordinary partner.”
“It has been the greatest honor of my life to serve as your president,” Biden said in a statement. “And while it has been my intention to seek re-election, I believe it is in the best interest of my party and the country for me to stand down and focus entirely on fulfilling my duties as president for the remainder of my term.”