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Washington State Division of Credit Unions


Conference on Preparing for Disaster	Worksheet

What's New

Final Rule On The Credit Union Fee Increase
On November 26, 2008, the Department of Financial Institutions (DFI) filed the final rule (CR-103, WSR 08-24-057) on asset assessment and hourly fee increases for credit unions. Learn more.
Quarterly Asset Assessment Worksheet
First quarter 2009. ACH debit will be originated on January 23, 2009.

Download Asset Assessment Sheet (Excel)***
Final Rule on Residential Mortgage Lending Disclosure Summary
On November 4, 2008, the DFI filed the final rule (CR-103, WSR 08-22-083) requiring credit unions, along with other Washington state mortgage lenders, to provide a disclosure summary on all loans used to purchase an owner-occupied, primary residence, or second home. Learn more.
Division Of Credit Unions Adopts Final Rule On Credit Union Use Of Federal "Guidelines"
On November 4, 2008, the Division of Credit Unions filed the final rule (CR-103, WSR 08-22-072) for credit union compliance with the federal “Interagency Guidance on Nontraditional Mortgage Product Risks” and “Statement on Subprime Mortgage Lending.” Learn more.

See: CR-103 (PDF)* and Adopted Rule Language (PDF)*
NCUA Temporarily Increases Insurance Coverage To $250,000
On October 03, 2008 President Bush signed the Economic Stabilization Act of 2008 which raises the NCUA insurance coverage from $100,000 per account to $250,000 until December 31, 2009. Learn more.
Fourth Quarter 2008 Asset Assessment Worksheet Now Available
Based on assets as of June 30, 2008. ACH debit will be originated on October 23, 2008. Download worksheet (Excel)***.
Deposit Insurance Information
DFI responds to concerns about the safety of deposits in banks and credit unions doing business in Washington State. View response.
SHB 2770 Rulemaking - "Disclosure Summary"
Disclosure summary rules draft and draft model disclosure summary are now available online for review. Learn more.
MBL Report for 2008 - Unsecured Member Business Loans under WAC 208-460-060(1)(b)
Due to the Division of Credit Unions at the same time 5300 call reports are due. Download Report (PDF)*.
VISA® or MasterCard® Share Authorization Request
The VISA® or MasterCard® Share Authorization Request is an application for a state-chartered credit union to receive, hold or transact shares of VISA, Inc., or MasterCard, Inc., in accordance with the conditions specified in DCU Interpretive Letters I-07-05 (PDF)* and I-07-06 (PDF)*.

Download Share Authorization Request Application (Word)**

Who We Regulate

Credit unions are cooperative, nonprofit organizations created for the purpose of promoting thrift among their members and providing a source of credit to them. Credit unions may be chartered under state or federal law.

Examination and Supervision

The Division of Credit Unions examines and supervises the state credit unions that do business in Washington State, in order to protect their members’ financial interests. About 75 state credit unions do business here, with aggregate assets of more than $23.5 billion. The shares and deposits at our state credit unions are insured by the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF is administered by the National Credit Union Administration (NCUA).

The NCUA also examines and supervises federal credit unions. About 55 federal credit unions do business in Washington State. You can usually identify federal credit unions by the word “Federal” in their name. The NCUA processes consumer complaints against federal credit unions. The regional office of the NCUA may be reached at 1230 W. Washington St., Suite 301, Tempe, AZ 85281 (602) 302-6000.

Mission Statement

We examine and supervise state credit unions for safety and soundness and compliance with applicable credit union law in order to protect members' financial interests. Although state credit unions are our customers, we recognize that the citizens are the ultimate beneficiaries of our work.

The Division of Credit Unions administers the Washington State Credit Union Act and the Central Credit Union Act, chapters 31.12 and 31.13 RCW, respectively. The Division's rules are set forth in Title 208 WAC.

Consumer Protection

Many of the federal consumer protection laws that apply to banks also apply to credit unions. In general, the NCUA has authority to enforce most of these laws against state and federal credit unions. Our Division works with the NCUA to monitor compliance with consumer protection laws by our state credit unions.

The Division also processes consumer complaints against state credit unions. View our policy on handling consumer complaints.