Revised Code of Washington

Wash. Rev. Code § 31.12.015 (2026)

Declaration of policy

✓ current as of May 2026

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A credit union is a cooperative society organized under this chapter as a nonprofit corporation for the purposes of promoting thrift among its members and creating a source of credit for them at fair and reasonable rates of interest.

The director is the state's credit union regulatory authority whose purpose is to protect members' financial interests, the integrity of credit unions as cooperative institutions, and the interests of the general public, and to ensure that credit unions remain viable and competitive in this state.

[ 1997 c 397 s 3. Prior: 1994 c 256 s 69; 1994 c 92 s 176; 1984 c 31 s 3.]

Notes:

Findings—Construction—1994 c 256: See RCW 43.320.007.

Notes of Decisions

Cited in 1 case, 2006–2006 · leading case: Save Columbia CU Comm. v. Columbia Cmty. Credit Union, 139 P.3d 386 (Wash. Ct. App. 2006).

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Save Columbia CU Comm. v. Columbia Cmty. Credit Union, 139 P.3d 386 (Wash. Ct. App. 2006). “¶ 35 The WSCUA does not expressly grant credit union members the right to assert a direct claim against a director for breaching a fiduciary duty.”

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