<p>FEDERAL WAY, Wash. – The Washington Credit Union League scheduled a hearing during its government affairs conference, on a proposed field-of-membership regulation change that would allow well-run CUs to expand their field-of-membership by a board vote instead of requiring them to receive approval from the state regulator. Parker Cann, director of the Division of Credit Unions for the Department of Financial Institutions unveiled a preliminary draft of his proposal to credit unions at three town hall-type meetings last year (CU Times, Dec. 5, 2001). The rule changes would allow any credit union with a composite CAMEL 1 or to add any occupational, associational or community group with a population of 6,300 or lesss with the approval of its board of directors. A credit union that wanted to add a larger group or any SCCU with a CAMEL 3,4, or 5 would have to go through the regular regulatory process. The proposed rule is currently out for comment. -</p> <p>[email protected]</p>

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