WA Bulletin B-17-04 Exam Focus for Consumer Protection Compliance

On February 23, the DCU released Bulletin B-17-04, Exam Focus for Consumer Protection Compliance During 2017 through 2020.  The Bulletin details the compliance exam focus for 2017 – 2020. Exam Focus for Consumer Protection Compliance During 2017 through 2020 In March 2017, the Division of Credit Unions (Division) will complete its first cycle of enhanced consumer protection compliance exams for … Read More

DCU’s Guide to Director Responsibilities

The DCU released Bulletin B-16-20, which is a white paper guide for credit union directors.  The guide, based on the FDIC’s Pocket Guide for Directors, is a set of common-sense principles setting forth the basic responsibilities and duties of a credit union’s board.  It describes a framework for corporate governance that can apply to any institution.  The DCU feels that … Read More

Repeal of Regulatory Relief for Small Credit Unions CR-102 Filed

The DCU is repealing its Regulatory Relief for Small Credit Unions rule (Chapter 208-424-WAC) because the rule no longer complies with the Washington Credit Union Act and is out of date.  For credit unions up to ten million dollars in total assets, the rule provides timing relief for special membership and regular board meetings. Passwords to access the blog posts, … Read More

Online Payment Process for DCU Semi-Annual Asset Assessment Fees

Online Payment Process for DCU Semi-Annual Asset Assessment Fees DCU Bulletin B-16-09, July 7, 2016 Chapter 31.12 RCW authorizes the Director to charge fees to credit unions and certain other persons in order to cover the costs of the operation of the division of credit unions and to establish a reasonable reserve for the division. Chapter 208-418 WAC is amended … Read More

DCU 2016 Exam Focus

The Division of Credit Unions has published Bulletin B-16-02, which establishes their exam focus for 2016. The bulletin lists four focus areas for 2016: Cybersecurity This goes hand-in-hand with NCUA’s focus of cybersecurity risks. The DCU hired Security Compliance Associates (SCA) to assist them in performing IT security examinations. The main differences that credit unions will see in the Division’s … Read More