Bill updating WA Credit Union Act clears Legislature

Priority legislation for Washington credit unions during this year’s legislative session is headed to the governor’s desk to be signed into law after the Washington State Senate unanimously approved House Bill 1247 this afternoon.

The bill allows credit unions to better serve their members, increase member engagement and participation, and adds clarity for state regulators in their work to provide strong oversight.

The policies included in the bill (click here for policy summary) came out of work by the State Issues Working Group and Governmental Affairs Committee.

Representatives Kristine Reeves (D-Federal Way) and Larry Hoff (R-Vancouver) sponsored the measure, while Senators Mark Mullet (D-Issaquah), Lynda Wilson (R-Vancouver), and Annette Cleveland (D-Vancouver) sponsored the companion bill in the Senate.

The House of Representatives approved the bill unanimously earlier this month, which means it is now transmitted to Gov. Jay Inslee to be signed into law once it’s signed by the Speaker of the House and the Lieutenant Governor over the next few days. Once it is officially received by the governor’s office he has five days to act, meaning we would expect to have it endorsed in the next 7-10 days depending on how quickly is it transmitted.

Posted in Advocacy on the Move.