OLYMPIA, Wash. — While CUNA generally leaves state regulatory issues for the leagues to battle out, "fundamental issues" raised in Washington State's consideration of private primary deposit insurance have drawn the national trade association into the fray.

CUNA, which does not typically weigh in on state matters, has written the Washington State Department of Financial Institutions Credit Union Director Linda Jekel in support of considering the option of private primary deposit insurance in Washington State.

CUNA President/CEO Dan Mica noted that banker groups often write in opposition to changes to credit union authorities; several including the American Bankers Association have written on this particular proposal. "However, we are dismayed that some within the credit union system have failed to recognize what is really at stake in this rulemaking process–the viability of the dual chartering system and the ability of state regulators to affect independent, tailored decisions developed under a rigorous comment and review process," he wrote.