Washington’s DFI Clears Low-Identification Immigrant Accounts

Register now

OLYMPIA, Wash. – The Department of Financial Institutions approved special no interest/no dividend accounts for members lacking a Taxpayer Identification or Social Security number. Such accounts are being provided at numerous credit unions for undocumented or unbanked immigrants. In approving the accounts, the CU Division of the DFI. NCUA has also approved similar accounts for federally chartered credit unions, and at least one credit union, Desert Schools FCU, has begun offering them recently.

For reprint and licensing requests for this article, click here.