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Governing for Results 13 - Washington State Digital Archives

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Department of Financial Institutions<br />

Division of Credit Unions Revamps Exam Report<br />

The Department of Financial Institutions, Division of Credit Unions, examines<br />

credit unions that do business in <strong>Washington</strong> <strong>State</strong> <strong>for</strong> safety and soundness in<br />

order to protect their members’ financial interests. The previous safety and<br />

soundness examination report <strong>for</strong>mat had grown outdated, lacked professional<br />

presentation, was poorly organized and lacked key elements that contribute to<br />

correction of weaknesses by credit unions. As a result, credit union management<br />

could overlook an issue as they sorted through the report to address<br />

weaknesses. In addition, advances in software tools had not been incorporated<br />

into the report. A team was <strong>for</strong>med to redesign the report into a more effective<br />

<strong>for</strong>mat.<br />

<strong>Results</strong><br />

★ Improved visual presentation, readability, and professional look to the report.<br />

★ Various reader groups are now able to quickly focus on their areas of interest.<br />

★ More clarity on improvements needed in a credit union’s operation.<br />

Team Name: Credit Unions’ Examination Report Team<br />

Team Members: Sue Graham, Feryl Woodworth, Rick Ullrich, Austine<br />

Izuagbe, Caryl Ausejo, Glenn Ross, Jay Weintraub, Mike Delimont, Linda Jekel,<br />

Parker Cann<br />

CONTACT: Gloria Papiez, (360) 902-8820<br />

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