Credit Unions Interpretive Letters

Interpretive letters, formerly known as opinions, clarifying RCWs and WACs related to state-chartered Credit Unions.

DFI Director's Interpretive Statements

See Also: Interpretive Statements from the Director of DFI

Number Date Subject
I-14-05 12/29/2014 Discontinuing Use of State-Mandated “Disclosure Summary”
I-14-04 07/15/2014 Charitable Donation Accounts
I-14-03 05/20/2014 Referring to a Board of Directors as a “Board of Trustees”
I-14-02 05/14/2014 When is a Board Member Disqualified Due to Unexcused Absences
I-14-01 02/11/2014 SBA Loans
I-13-04 07/15/2013 Credit Union Owned Life Insurance
I-13-01 03/07/2013 Use of the Term "Audit Committee" in Credit Union Bylaws
I-13-02 02/28/2013 State Credit Union Investments in Employee Benefit Trusts
I-11-04 10/28/2011 Board Member Life Insurance
I-11-03 06/10/2011 Definition of Vice President
I-11-02 04/13/2011 May an individual be re-instated as a member under the “once a member, always a member” principle
I-11-01 01/24/2011 Whether a director emeritus is eligible for expense reimbursement for travel or training expenses, or qualifies for insurance benefits
I-10-05 12/07/2010 NCUA Regulation Flex in 12 C.F.R. 742.4 and personal guarantees for MBLs
I-10-04 08/09/2010 Use of a CUSO to Take Assignment of a Delinquent Mortgage Loan and Foreclose, Hold and Dispose of Collateral with Environmental Risks
I-10-03 05/14/2010 Investment in Real Estate
I-10-02 04/12/2010 Summary of 2010 Bill (EHB 2830)
I-10-01 02/24/2010 Contemporaneous use of official credit union name and assumed trade name
I-09-04 12/23/2009 The Extent to Which Credit Unions Can Accept Government Sub-grant Funds
I-09-03 09/08/2009 Clarification of “Master Business License” and Related Exemption Issues for Credit Unions
I-09-02 09/04/2009 Pledge of Credit Union assets
I-09-01 02/11/2009 RCW 31.12.365 (2) permitting reimbursement for reasonable expenses for directors and supervisory committee members (official volunteers)
I-08-04 09/29/2008 Board Absences
I-08-03 04/09/2008 Clarity Of Consumer Disclosure On Interest Vs. Dividend Payment
I-08-01 01/31/2008 Credit Union "associate" board members
I-07-06 11/29/2007 Conditions of approval for ownership of MasterCard Class A shares
I-07-05 11/21/2007 Conditions of approval for receipt of Visa, Inc. “restructuring” stock
I-07-04 11/14/2007 Offers to make dividend payments during merger situations
I-07-03 07/19/2007 Use of the word Credit Union in name
I-07-02 01/30/2007 Clarifying what constitutes a MBL construction loan under Chapter 208-460 WAC
I-07-01 01/08/2007 Establishing no-interest/dividend accounts for members lacking a taxpayer identification number

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