NWCUA-Backed Charter Update Passes in Washington House, 95-0
HB 1247 makes common sense regulatory updates to help credit unions better serve their members.
Legislation updating the Washington Credit Union Act unanimously passed in the Washington House March 1. HB 1247 makes six updates and was sponsored with bipartisan support by Rep. Kristine Reeves (D-Federal Way) and Rep. Larry Hoff (R-Vancouver).
The Northwest Credit Union Association developed the legislation in collaboration with member credit unions in Washington.
“I believe in equal access to financial opportunities,” Reeves said in her address to House Members. “I believe in transparency for organizations that hold the people’s money in trust.”
A companion bill, SB 5479, will now be considered in the Senate. SB 5479 was also introduced with bipartisan sponsorship from Senators Mark Mullet (D-Issaquah) and Lynda Wilson (R-Vancouver).
“Your Association’s advocacy team will work with sponsors and leadership to get a final version passed and sent to Governor Inslee to sign,” said Joe Adamack, Northwest Credit Union Association Vice President of Legislative Affairs for Washington.