WASHINGTON (7/11/12)--The resignation of Rep. Thaddeus McCotter (R-Mich.) leaves a void for credit unions in Michigan and the country, the Michigan Credit Union League (MCUL) said on Tuesday.
"Thad McCotter has been an important ally to the credit union movement," MCUL CEO David Adams added.
McCotter first served in the U.S. Congress in 2003, was a member of the House Financial Services Committee, and co-sponsored separate bills that would increase the credit union member business lending cap and grant credit unions greater access to supplemental capital. He also spoke at the Credit Union National Association's 2010 Governmental Affairs Conference.
McCotter last Friday announced he would resign from his seat after he did not gain the number of signatures needed to appear on a primary ballot.
The Michigan Bureau of Elections in May found only 277 of the 2,000 signatures McCotter turned in were valid, and the former congressman is being investigated for possible election fraud by Michigan state authorities.