BankPAC

QUICK FACTS ABOUT SCBA BANKPAC

SCBA BankPAC is the non-partisan political action committee of the SCBA.  Its purpose is to solicit contributions from individual bankers in South Carolina for both state and national elections.  SCBA BankPAC is composed of two separate segregated funds, the state PAC fund and the federal PAC fund.
 
SCBA BankPAC uses the funds raised to support candidates who help promote a strong and competitive banking system.
 
SCBA BankPAC is operated by the six Group Directors of the SCBA Board of Directors, therefore, representing the entire state.  They determine which candidates to support by considering the recommendation of individual SCBA members and carefully reviewing the following set of criteria.
 
– The candidate’s position on banking and business issues.
– The candidate’s voting record, leadership ability, and committee assignments.
– The probability of the candidate’s success.
 
Contributions to SCBA BankPAC are not deductible for state or federal income tax purposes.

NO BUTS ABOUT IT

BUT I already give directly to the candidates and party of my choice….
Great!  You should continue to contribute to the candidates and party of your choice.  But you should also give to SCBA BankPAC.  SCBA BankPAC represents the unified voice of the banking industry in South Carolina.  By contributing to SCBA BankPAC you have the opportunity not only to make an impact locally, but you also have a statewide and national impact on the election of candidates who will shape legislation that affects the banking industry and your daily workplace.
 
BUT you give to a political party I do not support….
SCBA BankPAC is a non-partisan political action committee, and its members are active in both political parties.  SCBA BankPAC is non-partisan in its selection of candidates to support.  Party labels are not considered.  SCBA BankPAC focuses solely on supporting quality candidates who will stand by banking interests and promote a positive business climate in South Carolina.
 
BUT I don’t like what PACs stand for….
PACs offer a legitimate way for bank officers, directors, and employees to support candidates who understand and share our industry’s perspective and concerns on issues, or at the very least are receptive to our views.   Many may find politics distasteful, but what is more distasteful is what can happen to you in politics if you don’t get involved.  Politics is like football; the game is won or lost on the field, not the sidelines.
 
BUT why does BankPAC need me, I am only one person….
We are all in this together!  It does not matter if you are a senior officer, a director, or a part-time teller; your participation makes a difference.  If you benefit from the banking industry in South Carolina, you have something to lose if bad laws are passed and much to gain when pro-banking laws are passed.  It takes each one us of us doing our part.  This is not a time for solos; we need a choir to make our voices heard.
 
BUT my bank already pays dues, why do you need more money from me….
Election laws prohibit the use of membership dues for contributions to political candidates. Funds for contributions to candidates must be raised separately from a bank’s membership dues.

QUESTIONS & ANSWERS

Who can contribute?
Individual contributions to the State PAC can be accepted from any employee, stockholder, officer, or director of a South Carolina bank or savings bank. All contributions must be voluntary, and all individuals have the right to refuse to contribute without fear of reprisal. Corporate contributions to the State PAC can be accepted from state-chartered banks and state-chartered savings banks, as well as the holding company of a state or national bank, or state or federal savings bank.

Where does the money go?
The State PAC provides direct campaign support to candidates for the South Carolina Legislature and to candidates for state constitutional officers. The Federal BankPAC provides campaign support to candidates for Congress.

How are SCBA BankPAC funds distributed?
South Carolina bankers on the BankPAC Board rely on recommendations and makes contributions to state candidates based upon their voting records, committee assignments and leadership positions. Federal candidates receive contributions to the South Carolina congressional delegation are determined with input from the SCBA BankPAC Board and the SCBA staff.

Why should you contribute?
As a banker, you are in a business that depends largely on decisions made by elected officials. SCBA BankPAC provides bankers with opportunities to support candidates that understand and appreciate banker concerns. PAC contributions enable SCBA staff and bankers to have direct contact with legislators.