Two More Wyoming Credit Unions Approved to Hold Public Funds

Posted by Bobbie Frank on October 2, 2025

On October 2, the Wyoming Board of Deposits approved two credit unions as public depositories, WyHy FCU and Blue FCU, bringing the total of approved credit unions now eligible as public depositories to nine. The list of public depositories has been updated and posted to the State Treasurer’s website, including the first seven approved credit unions.

Credit unions must apply to the State Treasurer’s office and get Board of Deposits approval to hold public deposits. The Board of Deposits meets every other month. The next opportunity for credit unions to be approved is the December 4 meeting.

Approved depositories are also eligible to participate in the State Treasurer’s Time Deposit – Open Account (TDOA) program. In 2024, the program deposited over $520 million in eligible financial institutions. The TDOA program is a discretionary State Treasurer program by which public funds are placed in banks approved as eligible state depositories (W.S. 9-4-801 through 9-4-834).

This program assists banks that lack an asset base sufficient to meet their lending needs. Banks utilizing this program must fully collateralize the deposits and pay interest to the State Treasurer at rates set quarterly by the State Loan and Investment Board. The Board meets quarterly, in advance of each calendar quarter, to set the interest rate for the ensuing quarter.

Posted in Advocacy on the Move, Wyoming Advocacy.