OLYMPIA, Wash. – Washington Gov. Chris Gregoire signed a law that will expand access by the state’s credit unions to municipal and government entity deposits.
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The bill increases the amount of money a municipality can deposit in a federally insured credit union from $100,000 to the $250,000 limit on federal deposit insurance. It also expands eligible credit unions from state charters to all credit unions.
The new law will go into effect on June 8, which is 60 days after the end of the regular 2011 legislative session.
