Individuals:  An eligible individual (CU CEOs, CU Senior Management, all CU Employees who are members AND credit union members) can contribute without limit to TCUL PAC as often as they like.  The contribution must come from the individual’s personal finances. 

An individual may not make a contribution from funds or resources provided to the individual by a corporation, or via any other organization prohibited from making political contributions. 

Contributions can be in the form of check, cash, cashier’s check, or credit card, voluntary payroll deduction for credit union employees, and “deduct-a-buck” programs for board and credit union members.  You can also make in-kind contributions for events to raise TCUL PAC funds, such as items for auctions. (However, the law prohibits raffles for political purposes).

Credit Unions:  There is no limit on what a credit union can spend to cover costs involved in fundraising within the eligible class specifically for TCUL PAC.   Also, there is no limit on how many fundraising events or programs in which a credit union may participate for TCUL PAC.  

Credit unions can pay for the expense of organizing their own fundraiser for TCUL PAC, as long as all the paying attendees at the fundraisers are made up of the eligible class.  Although there is no limit on what a credit union can spend to hold a fundraiser, the law does require that the credit union raise at least three times the amount spent by the credit union for the cost of the fundraiser.  In other words, the costs incurred by the credit union to hold a fundraiser cannot exceed 1/3 of the amount raised at the fundraiser. 

In the case of auctions, silent or otherwise, the law requires that items contributed for auction by credit unions be auctioned off for at least three times the cost of the item donated.  An exception exists for any auctioned items that are clearly perishable food items, those can be auctioned off at an amount less than 3 times their value.