OLYMPIA, Wash. - A regulatory relief measure for small credit unions that was adopted by the Washington State Department of Financial Institutions' Division of Credit Unions on June 25, went into effect July 27. The final rule allows small CUs: * to schedule special meetings of members from 10 to 120 days after a request for a special meeting is received by the CU's secretary. The previous rule requires special meetings to be scheduled from 20 to 30 days after the request is received; * to hold as few as nine regular board meetings each calendar year, no more than 10 weeks apart. The former rule requires regular board meetings to be held monthly.
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From the July-31, 2002 issue of Credit Union Times Magazine • Subscribe!
Regulatory relief for Washington State's small CUs goes into effect
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