CBAI FedPac is a non-partisan political action committee formed in 1994 to help support candidates and incumbents of both parties who are community banking advocates. Executive or administrative personnel, directors or shareholders of CBAI member banks and associate members may contribute to CBAI FedPac. A solicitation authorization form is required by the Federal Election Commission in order for CBAI FedPac to formally ask for your contributions. Please help community banking continue to strengthen its presence in Washington by signing the solicitation authorization form. If you have any questions, please contact CBAI’s Governmental Relations Department at 800/736-2224.
Questions and Answers about Contributing to CBAI FedPac
Who can Contribute?
Executive or administrative personnel, directors or shareholders of CBAI member banks and associate members may contribute to CBAI FedPac. In fact, personal contributions are the only contributions permitted for federal elections.
What is the first step in making a contribution?
The Federal Election Commission (FEC) requires that trade association federal political action committees (PAC) must obtain prior written approval from its members to officially solicit for monetary contributions. CBAI FedPac will only solicit those who sign the solicitation authorization form (or as directed by the signer of the solicitation authorization form). The form must be signed by either the individual member or a representative with whom CBAI normally conducts business. In most cases this is the Chairman, President or CEO.
Is there an Obligation to Contribute to FedPac?
No, all contributions to CBAI FedPac are voluntary. Signing the solicitation authorization form simply allows CBAI FedPac to ask you for a contribution. You are under no obligation to contribute to CBAI FedPac once the solicitation authorization form has been signed.
Am I Permitted to Make Multiple PAC Contributions?
Normally you are permitted to sign only one authorization per calendar year. However, CBAI FedPac and ICBA's ICBPAC are declared affiliated by the FEC for the purpose of fundraising. Therefore, as a CBAI member you are permitted to sign authorization forms for both CBAI FedPac and ICBPAC. Contributions can be made to both CBAI FedPac and ICBPAC within the limits described below. Your contributions will go to a common cause - the enhancement of community banking.
What are the Individual PAC Contribution Limits?
An individual may contribute up to $5,000 to any one federal trade PAC per calendar year. CBAI FedPac and ICBA's ICBPAC are considered together for purposes of the annual limit.
May Corporations make PAC Contributions?
CBAI FedPac cannot accept corporate contributions; however, CBAI is able to accept corporate sponsorship funds from state/national banks, thrifts, and holding companies as well as from associate members to be used to defray fundraising costs. Corporate sponsorships are available for most CBAI FedPac events (i.e., auctions, raffles, baseball games).
What are the Individual Candidate Contributions Limits?
You may personally contribute directly to candidates, regardless of your contribution to CBAI FedPac. Individuals may give a maximum of $2,500 per election cycle to each candidate for federal office – primary, runoff and general elections are each considered separate elections.
Are My Contributions Tax deductible or Reimbursable?
No, CBAI FedPac contributions are not tax deductible as charitable contributions for federal income tax purposes, and Federal Election Law prohibits individuals from being reimbursed or advanced financially by any entity or individual for the purposes of making a PAC contributions.