Credit Unions Rulemaking Docket
Rulemaking is the process government agencies must use to create, modify, or repeal rules in the Washington Administrative Code (WAC).
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Current Rulemaking by the Division of Credit Unions
Reasonable Compensation Rulemaking
The Division of Credit Unions will start rulemaking after the amendments to the Washington Credit Union Act become effective on July 28, 2013. The rulemaking will cover RCW 31.12.365 and reasonable compensation for members of the board and supervisory committee of a Washington state chartered credit union.
Reasonable Compensation Rulemaking Documents
- Final Rule (PDF)*
- Concise Explanatory Statement (PDF)*
- CR-103 (PDF)*
- CR-102 (PDF)*
- Small Business Economic Impact Statement Exemption (PDF)*
- CR-101 (PDF)*
- DCU Bulletin B-13-04: June 20 Meeting on Reasonable Compensation (PDF)*
- DCU Bulletin B-13-05: Stakeholder Meeting Timeline on Reasonable Compensation (PDF)*
- DCU Bulletin B-13-17: Proposed Rule on Reasonable Compensation (PDF)*
- DCU Bulletin B-13-20: Formal Hearing on Reasonable Compensation (PDF)*
Previous Stakeholder Meeting Documents
- January 07, 2014
- October 24, 2013
- September 26, 2013
- August 27, 2013 Meeting
- June 20, 2013 Pre Rulemaking Meeting
Reasonable Compensation Rulemaking Comments
- Brian Knight, Nascus (PDF)*
- Numerica Credit Union (PDF)*
- Parker Cann (PDF)*
- Hal Scoggins, Farleigh Wada Witt Attorneys (PDF)*
- Lynn Ciani, VP General Counsel, Numerica Credit Union (PDF)*
(Received before CR-101 was filed on 08/05/2013)
- Christina Lethlean, President and CEO, GESA Credit Union (PDF)*
- Dan Strandy, Chairman of the Board, Verity Credit Union (PDF)*
- Sharon Whitehead, SVP/Chief Administrative Officer, WSECU (PDF)*
- Wayne Langei (PDF)*
Frequency of Board Meetings Rulemaking
The Division of Credit Unions will start its second rulemaking related to the amendments to the Washington Credit Union Act. The second rulemaking will cover RCW 31.12.225 (5) regarding frequency of board meetings. You are encouraged to keep informed and participate in the stakeholder meetings listed below.
The scheduled dates for stakeholder meetings at Department of Financial Institutions are as follows:
- November 26, 2013 - 9:30-11:30 am
- January 23, 2014 - 2:00-4:00 pm
- March 20, 2014 - 2:00-4:00 pm
In Person: You can attend the stakeholder meetings in person at Department of Financial Institutions, 150 Israel Road SW, Tumwater, Washington 98501. Please allow time to check in with reception.
Teleconference: Another option is to join these meetings by teleconference, dial 1-877-298-8255 and use conference ID 7009517#.
March 20, 2014 Meeting Documents
January 23, 2014 Meeting Documents
- Meeting Minutes (PDF)*
- Meeting Agenda (PDF)*
- Draft #2 Language for Rule (PDF)* - Revised
- Bulletin B-13-21 (PDF)*
November 26, 2013 Meeting Documents
- Meeting Agenda (PDF)*
- Draft Language for Rule (PDF)*
- Comparison of Board Meetings Requirements by State (PDF)*
- Bulletin B-13-19 (PDF)*
Information and documents from previous rulemaking activity.
Rules are regulations, standards, or other statements of general applicability adopted by an agency to either:
- Implement, interpret, or make specific a law enforced or administered by an agency, or
- Prescribe or interpret an agency policy, procedure or practice requirement binding on persons outside the agency.
Rules are valid and binding on the persons they affect, and have the force of law unless amended, revised, or unless a court of competent jurisdiction determines otherwise.
Petition for Adoption, Amendment, or Repeal of a State Rule
Individuals or groups who wish to petition DFI to adopt, amend, or repeal an administrative rule may do so by using the form linked below. You also may contact DFI using other formats, such as a letter or email.
Generally, rulemaking takes place in three distinctive steps based on filings required by the Office of the Code Reviser:
- CR-101 Pre-proposal Statement of Inquiry. At this stage, proposed text is usually not available. Comment is invited on whether rules in the areas identified in the CR-101 are needed and, if so, the content of those rules.
- A CR-102 Rulemaking Proposal is filed if it is decided to proceed. Proposed text is filed with the CR-102 and a comment period and public hearing are scheduled.
- After the comment period and public hearing, a CR-103 Rulemaking Order will be filed if it is decided to proceed with the rule. The final text is included with the CR-103. The newly adopted rules are generally effective 31 days after filing with the Code Reviser.
Once a rule has been adopted, it becomes a part of the Washington Administrative Code (WAC).
For more information on influencing the rule-making process in WA State, see "A Role for Citizen's in Public Policy (PDF)*".
* This document is a PDF file, and you will need Adobe Acrobat Reader to view it. If you don't already have Acrobat Reader installed on your computer, you may download it for free from Adobe.
** This document is a Microsoft Excel file, and you will need Microsoft Excel or Excel Viewer to open it. If you don't have Microsoft Excel installed on your computer, you may download the Excel Viewer for free from Microsoft.