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.
Under a bill awaiting a state Senate committee vote, CUs could accept up to $100,000 in public funds, an amount seen as a compromise against a league request for unlimited funds opposed by the banking lobby.
Supporting the $100,000 limit is state Sen. Jean Berkey (D. Everett), author of the bill and chairman of the Senate Financial Institutions Committee, which held its first hearing on the measure last week.
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