Q: Does Your Bank Support Political Action Committees?

American Banker, July 25, 1994 | Go to article overview

Q: Does Your Bank Support Political Action Committees?


SKIP MARTIN

President,

Pocahontas Federal

Savings and Loan

Pocahontas, Ark.

I'm not a big contributor to PACs, but I'm a supporter of some. I've sat on some boards of some PACs.

The concept of PACs is not all bad. It helps us get our names in front of people. It's easier in this day and age to work as a group than as an individual. That's just the way things seem to work.

Special-interest groups get things done more readily. They do things for the person in the political office; then the next time you call, they know who you are.

As a matter of fact, the people that our little PAC contributes to, they don't ever hear from us. But they know who we are.

I don't like the system, but there's no way I can change the system. And the only way to get anything done is through political contributions.

I'd like to get rid of the guys who have tons and tons of money and can't wait to spend mine.

LOUISE M. POLICELLO

President and chief executive, Bank North

Wausaukee, Wis.

If donations are given, it's done on a personal basis by the officers and directors.

Our bank has been participating in the Wisconsin Bankers Association PAC.

The reason that we feel that's important is because it gives our industry a voice in Washington, far more than we could do with modest contributions.

By channeling that to a PAC that's run by people whose philosophies are expressed the way we believe, we feel we can reach our objectives. …

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