Whatcom Educational CU volunteers to go first. "We have so many auditors looking at us anyway, what's one more?"
In mid-October, Whatcom Educational Credit Union in Bellingham, Wash., will undergo one of the Evergreen State’s first separate examinations for consumer compliance, now required of all Washington state chartered credit unions with more than $500 million in assets.
New rule exam for Evergreen State credit unions focuses on consumer and regulatory compliance, including FFIEC, BSA.
One of the fastest growing types of fraud is elder financial abuse, which the Consumer Financial Protection Bureau tabs as a $2.9 billion annual problem.
Having more than enough money to lend would seem to be a good problem to have. For many credit unions, however, the economy’s stalls and starts to recovery in 2011 kept members more focused on paying down debt and trimming expenses. Taking out new loans? Not so much.
O Bee Credit Union of Tumwater, Wash., will give away $15,000 and five iPads to the winners of its Capture the Tag contest, co-sponsored by TwinStar Credit Union and the Washington State Department of Financial Institutions, among others.
With two Minnesota mergers still underway, Wings Financial Credit Union has its radar set on expanding its field of membership to the Puget Sound area in Washington.
The $3.2 billion Wings Financial Credit Union said today it has received approval to expand its field of membership to the Puget Sound area in Washington.