December 9, 1998
Gary Ray Jones, President/CEO
Safeway Rocky Mountain FCU
3138 S. Parker Road
Aurora, CO 80014
You have asked whether a Wyoming statute that has been interpreted
by the Wyoming Attorney General as prohibiting your federal credit
union (FCU) from establishing an automated teller machine (ATM)
in Wyoming is permissible. WYO. STAT. ANN., ch. 13, §13-1-502(a)
and (g) (MICHIE 1997). The statute has the effect of prohibiting
an FCU from establishing an ATM in Wyoming unless the FCU has
"a place of business" in Wyoming or shares the facility
with a Wyoming financial institution. As explained below, the
Wyoming statute is preempted by federal law.
The attached letter from Richard Schulman to Ralph M. Shulansky
dated March 15, 1994, analyzes a state law that prohibits an FCU
that has its main office in another state from establishing an
ATM in that state. The letter explains that a state statute "limiting
the ability of out-of-state FCUs to establish and maintain ATMs"
in that state "frustrates the objectives of Congress and
is a nullity with respect to FCUs." The rationale of that
letter applies to the Wyoming statute.
If the Wyoming Department of Banking does not accept this interpretation,
please feel free to contact me or Mary Rupp, Staff Attorney at
(703) 518-6540.
Sincerely,
Sheila A. Albin
Associate General Counsel
GC/MFR:bhs
SSIC 3600
98-0926
Enclosure
cc: Mike Johnson, Reg. V