OLYMPIA, Wash. — The Washington Credit Union League and five credit unions that had requested the state Division of Credit Unions to look at allowing private primary deposit insurance have asked the regulator to put the plan on hold temporarily, regulatory Linda Jekel said today.

The league individually and the credit unions jointly have requested that the rulemaking process be temporarily halted in the interest of legislation changes and clarification. "While this process has been thorough and deliberative, we have come to the regrettable conclusion that legislative changes must be made to the statute under interpretation in order to produce a rule that both protects consumers and provides a reasonable framework for the operation of non-federal share insurance in Washington," the league's letter, signed by Senior Vice President and General Counsel Stacy Augustine, read.

Signing onto the credit union letter with essentially the same message were SHARE Credit Union, Prevail Credit Union, School Employees' Credit Union of Washington, Seattle Credit Union Center, and Harborstone Credit Union.