REGULATING AGENCY: Washington Department of Financial Institutions; Division of Credit Unions
- Charles Clark, Agency Director
- Amy Hunter, Director of Credit Unions
- Website: dfi.wa.gov/credit-unions
LEAGUE: Northwest Credit Union Association
STATS: (As of Dec 2020)
- TOTAL # SCUs: 52
- TOTAL # FCUs: 31
- SCU % OF TOTAL (SCUS #/STATE TOTAL #): 63% of 83 WA CUs
- TOTAL $ SCU ASSETS: $69,306,891,047
- TOTAL $ FCU ASSETS: $4,432,807,029
- TOTAL ASSETS: $73,739,698,076
- SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 94%
FUN FACT: The forests of the Olympic Peninsula are among the rainiest places in the world and the only rainforests (such as the Hoh Rain Forest) in the continental United States.
July 29, 2021 – The National Association of State Credit Union Supervisors (NASCUS) is proud to announce the Washington Department of Financial Institutions- Credit Union Division has earned Re-Accreditation following a series of in-depth reviews and assessments by a panel of veteran state supervisors.
“Accreditation is direct evidence of an agency’s capabilities and benefits all credit unions in the state as well,” said NASCUS President and CEO Lucy Ito. “It recognizes the professionalism of a state agency’s regulators, supervisors, and staff, while potentially delivering an impetus and support for legislation to modernize state law and policy changes to advance state supervisory processes and best practices.”
NASCUS accreditation is a robust process that includes disciplined self-evaluation, peer review, and ongoing monitoring. The process, administered by the NASCUS Performance Standards Committee (PSC), measures a state regulatory agency’s ability and resources to carry out its regulatory and supervisory programs effectively.
“Our department examines state-chartered credit unions operating in Washington to ensure their compliance with our laws. The value of NASCUS accreditation is that it shows our stakeholders that as examiners and as an agency we meet the highest standards nationally and are following best practices,” said Charlie Clark, Director of the Department of Financial Institutions. “I am proud of our team for receiving Accreditation.”
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