IDABANKPAC
FREQUENTLY ASKED QUESTIONS
What is a Political Action Committee (PAC)?
A Political Action Committee (PAC) is an organization that collects voluntary contributions from eligible individuals, such as bankers and employees of member banks, to support candidates for public office who understand and support the banking industry and sound financial policy.
Why does the Idaho Bankers Association have a PAC?
The PAC helps ensure that the banking industry has a unified voice in the political process. By supporting candidates who understand community banking and responsible regulation, the PAC helps protect the ability of banks to serve their customers and communities effectively.
Are corporate contributions allowed?
At the state level – yes. At the federal level – no. For the federal BankPAC, we can only accept personal contributions. But for the state IdaBankPAC, we can accept personal or corporate contributions.
How are PAC funds used?
All PAC funds are used to support candidates for state and federal office who demonstrate an understanding of and commitment to a strong, competitive banking industry. Contributions are made on a bipartisan basis — to candidates of any party who support sound banking policies.
How does the PAC decide which candidates to support?
The IdaBankPAC Committee and IBA staff evaluates candidates and make contribution decisions based on:
- Their voting records or positions on banking issues,
- Their leadership roles and committee assignments, and
- Their accessibility and willingness to engage with the banking community.
Partisanship is not a factor — support is based solely on issues relevant to banking.
Are contributions to the PAC tax deductible?
No. Contributions to the PAC are not tax deductible for federal or state income tax purposes.
How much can I contribute?
There is no limit to what individuals can contribute — every contribution, large or small, helps strengthen the PAC’s voice.
Why should I contribute?
The banking industry is heavily affected by legislative and regulatory decisions. The IdaBankPAC provides a way for Idaho’s bankers to collectively support candidates who understand those issues. Individual contributions, when combined, create a strong, unified voice advocating for fair and balanced banking policies.
Does the PAC favor one political party?
No – the PAC is strictly nonpartisan. Contributions are based on candidates’ positions on banking-related issues, not party affiliation.
How does the PAC differ from lobbying?
Lobbying involves direct communication with legislators about specific issues or legislation. The PAC, by contrast, provides financial support to candidates’ campaigns. Both are important parts of the association’s overall government relations strategy.
How can I contribute or learn more?
Click here to learn more about the IdaBankPAC and to contribute, or contact IBA staff.
What impact has the PAC made?
Through the IdaBankPAC, bankers have helped elect candidates who understand the importance of community banking, modern regulatory reform, financial inclusion, and local economic growth. It ensures the industry’s perspective is heard when key policy decisions are made.