OLYMPIA, Wash. — Washington's Department of Financial Institutions has issued a letter detailing how the state's credit unions can add "associate board members" to their boards.

So-called associate board members are appointed to their positions by the board but are not allowed to vote. They also may have shorter terms than regular board members.

John Annaloro, CEO of the Washington Credit Union League and Linda Jekel, director of Credit Unions for the DFI, agreed that the new board members may help CUs expand their boards and bring in new blood.

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Regulatory & Compliance