Washington DFI Issues Guidance on State Credit Union Investments in Employee Benefit Trusts

DCU Interpretive Letter I-13-02 concludes that state-chartered credit unions may make certain investments that are otherwise impermissible as long as they are for the express purpose of funding employee benefit obligations.

What HB 1582 Really Means for Washington State-Chartered Credit Unions

With two NWCUA-sponsored bills moving quickly through the Washington State Legislature, credit unions should begin looking ahead at how the bill will affect them should Gov. Jay Inslee sign it into law.

NCUA, NASCUS Partner in State-Chartered Low-Income Initiative

A partnership between the NCUA and NASCUS will give state-chartered credit unions new opportunities to receive the Low-Income Credit Union designation.

DCBS to Issue Administrative Rule in Line with Model Credit Union Act Subcommittee Recommendation

The Oregon DCBS will issue a temporary rule tomorrow concerning property use and ownership for state-chartered credit unions, one of many updates to the Oregon Credit Union Act recommended by the NWCUA’s Model Credit Union Act Subcommittee.

NCUA to Extend LICU Opt-In Process to State-Chartered Credit Unions

After a letter from the NCUA last month invited more than 1,000 federally chartered credit unions to apply for low-income credit union designation, the agency has announced plans to extend a similar offer to state-chartered credit unions.

Compliance Question of the Week

What does “Immediate Family Member” mean in our field of membership?

Washington State Audit Committee Recommends Continuation of Credit Union Tax Exemption

This Washington legislative update expands on the Washington State JLARC’s recent recommendation to continue the state-chartered credit union B&O tax exemption.

Key Info for WA CUs Holding Public Deposits

DFI has scheduled a free webinar to answer questions about the application, approval, and on-line reporting process for Washington state-chartered credit unions choosing to become qualified public depositaries.

Compliance Question of the Week

How is it that the NCUA is enforcing the SAFE Act on state-chartered credit unions?