OLYMPIA – As her first bill to pass the State House of Representatives in Olympia, Representative Kristine Reeves (D—Federal Way) tackled small ways to improve the health of credit unions. After the Great Recession, many people switched from corporate banks to smaller, local credit unions or community banks to receive better rates and customer service. Reeves’ bill provides more flexibility to credit unions and helps them keep up to date with federal laws without overly cumbersome regulations.
“Credit unions are how so many working families and military families bank today,” said Reeves after the passage of her bill by an overwhelming bipartisan vote of 96-1. “Giving them the leeway to adapt to federal law and incorporate new technologies just improves the experience of their customers.”
HB 1053 now moves on to the Senate for their consideration.