Subject of Possible Rule Making: Small credit unions.

     Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 31.12.516 (2), (3), (4), 43.320.040.

     Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: To implement section 26(3), chapter 83, Laws of 2001, to provide appropriate regulatory relief for small credit unions.

     Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.

     Process for Developing New Rule: Consultation with credit unions.

     Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication. Please provide comments and questions on the rules to Parker Cann, Director of Credit Unions, 210 11th Street S.W., Room 300, P.O. Box 41200, Olympia, WA 98504-1200, phone (360) 902-8778, fax (360) 704-6978, e-mail pcann@dfi.wa.gov.

September 27, 2001

John L. Bley

Director

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