Washington State credit unions have scored a legislative victory in 2010 by winning the right to accept public funds starting in July of next year.
Washington State has now joined its southern neighbor, Oregon, in enacting legislation to deposit public funds in credit unions.
The economic crisis and bank departures from rural areas were giving credit unions in eight states new hope last week their legislative proposals for deposit of public funds might stand an improved chance of passing this year.
All employees of the Centralia branch of the $741 million TwinStar Credit Union were reported safe Monday after a lock down and occupation by a SWAT team after an early morning attempted robbery at the southeast Washington State facility.
Despite banker opposition, Washington State credit unions are encouraged legislation allowing deposits of public funds in CUs could be enacted this session following support from a key lawmaker, the Washington Credit Union League said Thursday.