Subject of Possible Rule Making: Changes in quarterly asset assessment fees, hourly fees and other fee calculations for state-chartered credit unions.

     Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 31.12.516(6), 43.320.040.

     Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: Rule needed in order to provide for increase in assessment and fee rates, in accordance with the "fiscal growth factor" under chapter 43.135 RCW.

     Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: The division of credit unions of the department of financial institutions is the only state agency responsible for the calculation of state-originated fees for state-chartered credit unions. The National Credit Union Administration (NCUA), a federal agency, may also impose fees on state-chartered credit unions. The NCUA operates separately from the division of credit unions, and will be informed of this rule-making activity.

     Process for Developing New Rule: Stakeholder consultation.

     Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by attending any hearings on the proposed rule, and by contacting the Division of Credit Unions, Joanne Conrad, Regulatory Analyst, P.O. Box 41200, Olympia, WA 98504-1200, phone (360) 902-8813, fax (360) 704-6490, jconrad@dfi.wa.gov.

November 1, 2007

Linda K. Jekel, Director

Division of Credit Unions

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