Election results: how outcomes may impact your credit union
Published by: Andrew Canan
November 13, 2024 | Political Action
Thanks to your generous support throughout the 2023-2024 elections, the Ohio Credit Union Movement invested more than $440,000 in state and federal legislative champions. Your partnership led to 98% of Movement-backed candidates being elected. Here is a summary of what the results might mean for your credit union.
United States Senate
With his victory over longtime credit union advocate and Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Sen. Sherrod Brown (D-Cleveland), Bernie Moreno (R-Westlake) will become Ohio’s next senator. The League will move to establish a relationship with Sen.-elect Moreno and build upon existing connections he has with credit unions across the state. With Sen. JD Vance (R-Cincinnati) now the Vice President-elect, there will soon be another vacancy in the United States Senate. Governor Mike DeWine will appoint Vance’s successor who will hold the seat until a special election to be held in conjunction with the 2026 midterm elections.
United States House of Representatives
After facing the most difficult campaign of her career, it appears that Rep. Marcy Kaptur (D-Toledo) has held on to her congressional seat by less than one percentage point. One of the most senior members on the U.S. House Appropriations Committee, Rep. Kaptur will be able to continue her ardent support of CDFI Funding in the next Congress. In another close race, Congresswoman Emilia Sykes (D-Akron) was victorious and retained her seat with a larger win margin than previously expected. With Republicans expected to retain the majority, the League predicts that Congressman Jim Jordan (R-Urbana) will remain Chairman of the House Judiciary Committee. In addition, last week, Congressman Bob Latta (R-Bowling Green) announced he will pursue the Chairmanship of the House Energy and Commerce Committee.
Ohio General Assembly
Despite gains from the Democrats, Republicans maintained their unified super majority in the state legislature with a 65-34 majority in the Ohio House and a 24-9 majority in the Ohio Senate. Credit unions had champions re-elected and holding off difficult challengers across Ohio. In Montgomery County, State Rep. Willis Blackshear was one of those wins for the Democrats with his victory in Ohio’s 6th state senate district. A member of the House Financial Institutions Committee, Rep. Blackshear, has been supportive of credit unions, particularly relating to financial literacy. In the House, Rep. Bill Roemer (R-Richfield) and Rep. Andrea White (R-Kettering) were successful in what were thought to be coin toss races. However, given their strong campaigns and reputations as hard-working legislators, both won their re-elections with comfortable margins.
Contact Andrew Canan for questions or assistance.
