The Virginia Credit Union League, the state trade association for the Commonwealth’s 136 member-owned credit unions, today announced its endorsement of Democrat Ralph Northam for governor.
“From his service in the State Senate to his current position as lieutenant governor, Ralph has proven repeatedly that he is a friend to Virginia-based credit unions and the millions of Virginians who depend on our consumer-friendly products and services,” said Rick Pillow, president of the Virginia Credit Union League. “We also have a shared commitment to helping grow Virginia’s economy and we appreciate Ralph’s support of community financial institutions and the role we play in providing credit to members and Main Street businesses.”
The endorsement followed interviews between the Democratic and Republican gubernatorial candidates with representatives of the League’s Board of Directors and Governmental Affairs Committee. The candidates also completed a questionnaire covering a variety of issues of importance to credit unions and their members, including tax reform, financial literacy and member business lending.
Lt. Gov. Northam expressed his support for common-sense regulation for community financial institutions, noting that Main Street financial institutions, like credit unions and small banks, are facing increasingly burdensome regulation designed to rein in Wall Street banks. He also expressed support for credit unions’ bid to provide more loans to small businesses.
“I’m proud to receive the endorsement of the Virginia Credit Union League, a champion for member-owned credit unions and Main Street businesses,” said Northam. “I pledge to fight alongside them to ensure that community financial institutions are supported so that Virginia’s economy can continue to grow and business can thrive in the commonwealth.”