NWCUA-Sponsored Bill Unanimously Passes Washington State House

In a session that has seen unprecedented division in the Washington State Legislature, it looks as though the state’s elected officials all agree on at least one thing: credit unions.

The Washington State House voted Tuesday to pass the Northwest Credit Union Association (NWCUA)-sponsored Substitute House Bill 1582 by a 96-0 margin with two excused. The unanimous vote came exactly a week after a companion bill, Senate Bill 5302, passed the Washington State Senate by a 49-0 vote. Both bills address credit union board governance and investments, including a provision that would allow state-chartered credit unions to provide board and supervisory committee members with “reasonable compensation.”

“Our bills have not encountered any opposition, and our success this year was made possible by the outstanding advocacy efforts of our credit unions,” said NWCUA Vice President of Legislative Affairs Mark Minickiello. “Our legislators are well-educated and well aware of all the good we do for their constituents and their communities, and we could not have built such a broad base of support without such devoted advocates.”

HB 1582 now awaits a hearing before the Senate Financial Institutions, House and Insurance Committee. SB 5302 is scheduled for a hearing of its own before the House Business & Financial Services Committee on March 14, when it will also be considered for possible executive action.

Read more about the potential compliance implications of both bills.

 

Questions? Contact a member of the Association’s Legislative Affairs team:

Jennifer Wagner, Vice President of Legislative Advocacy
Mark Minickiello, Vice President of Legislative Affairs
Pam Leavitt, Policy Advisor

Posted in Advocacy News, Around the NW, Events, NWCUA.