Washington State Department of Financial Institutions

About Division of Credit Unions

The Washington State Division of Credit Unions examines and supervises state credit unions for safety and soundness and compliance with applicable credit union law in order to protect members' financial interests. Although state credit unions are our customers, we recognize that the citizens are the ultimate beneficiaries of our work.

The Division of Credit Unions administers the Washington State Credit Union Act and the Central Credit Union Act, chapters 31.12 and 31.13 RCW, respectively. The Division's rules are set forth in Title 208 WAC.


Who We Regulate

Credit unions are cooperative, nonprofit organizations created for the purpose of promoting thrift among their members and providing a source of credit to them. Credit unions may be chartered under state or federal law.


Examination and Supervision

The Division of Credit Unions examines and supervises the state credit unions that do business in Washington State, in order to protect their members’ financial interests. About 71 state credit unions do business here, with aggregate assets of more than $23.5 billion. The shares and deposits at our state credit unions are insured by the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF is administered by the National Credit Union Administration (NCUA).

The NCUA also examines and supervises federal credit unions. About 55 federal credit unions do business in Washington State. You can usually identify federal credit unions by the word “Federal” in their name. The NCUA processes consumer complaints against federal credit unions. The regional office of the NCUA may be reached at 1230 W. Washington St., Suite 301, Tempe, AZ 85281 (602) 302-6000.


Consumer Protection

Many of the federal consumer protection laws that apply to banks also apply to credit unions. In general, the NCUA has authority to enforce most of these laws against state and federal credit unions. Our Division works with the NCUA to monitor compliance with consumer protection laws by our state credit unions.

The Division also processes consumer complaints against state credit unions. View our policy on handling consumer complaints.