Interpretive letters, formerly known as opinions, clarifying RCWs and WACs related to state-chartered Credit Unions.

DFI Director's Interpretive Statements

See Also: Interpretive Statements from the Director of DFI

Number Date Subject
O-02-5 06/04/2002

Whether Washington State Chartered Credit Unions Can Sell and Finance Debt Cancellation Contracts

O-02-4 04/30/2002

New Field of Membership (FOM) Rules Effective March 8, 2002

O-02-3 04/08/2002

Credit Unions Possess Authority To Enter Into Arrangements with Third Parties To Sell Investment and Insurance Products To Members, Subject To Compliance With Applicable Regulatory Pronouncements

O-02-2 04/08/2002

A Director May Not Hold More Than One Board Officer Position, Except For Board Treasurer And Secretary

O-02-1 01/17/2002

State Credit Unions May Close for Four Consecutive Days After Appropriate Mitigation of Risks

O-01-8 11/02/2001

Credit Unions Possess Incidental Powers through Two Sources-1. The State Parity Provision (RCW 31.12.404); and 2. The State Incidental Powers Provision (RCW 31.12.402(23))

O-01-7 09/19/2001

Summary of HB 1366 (Chapter 83, Laws of 2001), Effective July 22, 2001

O-01-6 08/03/2001

#1 Non-US Citizens In A Credit Union’s Field of Membership May Join The Credit Union #2 Credit Union CUSOs May Serve Non-Member IRnet Customers, Subject to RCW 31.12.436(8)

O-01-5 06/04/2001

Bond Coverage Which Meets Minimums Established in NCUA Rules Is Generally Adequate Under Washington State Credit Union Act

O-01-4 05/24/2001

Credit Unions May Use Electronic Voting Methods To Elect Directors and Supervisory Committee Members, As Permitted By Their Bylaws

O-01-3 03/22/2001

Summary of Major Differences Between Washington’s MBL Rule (As Approved by NCUA Board) and NCUA’s MBL Rule

O-01-2 02/13/2001

A State Credit Union May Accept Federal Public Funds, But May not Accept State Public Funds

O-01-1 01/16/2001

State Credit Unions May Issue Shares to and Receive Deposits from Members in the Form of Revocable Living Trust Accounts

O-00-4 11/24/2000

Interim Director Appointed To Fill A New Board Seat May Serve Only Until The Next Annual Meeting Of Members

O-00-3 04/14/2000

Credit Unions May Accept Deposits from Nonmember Credit Unions

O-00-2 03/31/2000

State Credit Unions Can Convert or Merge Into State Mutual Savings

O-00-1 03/31/2000

"Spouses" as Used in RCW 31.12.365(2) includes Spousal Equivalents such as Domestic Partner

O-99-4 11/30/1999

Family Members Of Primary Member May Join Credit Union Even Though Primary Member Ceases To Be Part Of FOM Group

O-99-3 11/30/1999

"Once a member, always a member"; Continuing Eligibility of a Member's Family

O-99-2 10/04/1999

Approval of CUMIS Corporate Credit Union Bond 150

O-99-1 03/16/1999

Can Washington state chartered credit union (WSCCU) provide health, accident, and related types of personal insurance (insurance) to its board members?

O-98-12 12/30/1998

Definition of "voluntary committee"

O-98-9 08/14/1998

Taking former employees of occupational group as members

O-98-10 08/14/1998

Effective date of credit union mergers

O-98-8 07/09/1998

Control of non-profit charitable organization

O-98-6 06/24/1998

Approval of Progressive Financial Institutions Bond

O-98-7 04/23/1998

Disclosure of records to state law enforcement agencies

O-98-5 04/20/1998

Signature guarantee program

O-98-3 04/01/1998

Investment in real property primarily for own use (RCW 31.12.438)

O-98-2 03/27/1998

Requirement for submission of Form FI 6002, 1997 Economic Census, to U.S. Department of Commerce