NOTE: Personal checks suggested. Credit union contributions to CUPAC that exceed $100 in aggregate during the year will be subject to a federal income tax at the rate of 21% due by April 15 of the following year. Contributions subject to taxation include the net proceeds to CUPAC from golf outing fees paid by the credit union, cash prize donations paid by the credit union and corporate campaign contributions.
Federally chartered credit unions are prohibited by law from making any contributions to a political action committee. Individuals face no tax restrictions.
Contributions to CUPAC are not deductible as charitable contributions for federal income tax purposes. A copy of our report filed with the State Board of Elections is (or will be) available on the Board’s official website (www.elections.il.gov) or for purchase from the State Board of Elections in Springfield, Illinois.
Contributions are strictly voluntary and will be used for political purposes. You have the right to refuse to contribute without reprisal. The above amounts are suggested giving levels. More or less may be contributed. Contributor will not be favored or disadvantaged by reason of the amount contributed or decision not to contribute. A portion or this entire donation may be forwarded to CULAC, the federal political action committee of the Credit Union National Association