CUNA's Nussle Responds to Rep. McCarthy's Resignation

Rep. Kevin McCarthy, R-Calif., announced Wednesday he will resign from Congress at the end of the year. McCarthy, who served as Speaker of the House from January to October, has served in Congress since 2007 and has been a strong credit union supporter dating back to before his time in Congress.  

“Rep. McCarthy is one of those legislators that has understood the power of the credit union difference even before he was an elected official and supported policies to help credit unions throughout his distinguished career,” said CUNA President/CEO Jim Nussle. “His work with credit unions was instrumental in keeping expanded Internal Revenue Service reporting requirements out of legislation and has consistently pushed to reduce credit unions’ regulatory burden. Credit unions will miss him as a champion in Congress, and we wish him and his family the best going forward.” 

Then-House Majority Whip McCarthy said he would have never made it to his leadership positions “if I didn’t belong to a credit union.” 

He called credit unions the best of America’s “exceptional nature” at a previous Governmental Affairs Conference, and “a symbol of free enterprise, risk, and upward mobility.” 

McCarthy shared his long history with credit unions throughout his legislative career, which includes receiving a credit union loan after high school to attend junior college, refinancing his debt through the credit union, investing those savings to purchase investments, and later selling those investments to pay for the remainder of college.