The NASCUS Accreditation Program was adopted in 1989 to administer and assure the quality standards of states' credit union examination and supervision. Modeled on the university accreditation concept, the program applies national standards of performance to a state's credit union regulatory program.
The accreditation process includes disciplined self-evaluation, peer review and ongoing monitoring. Administered by the NASCUS Performance Standards Committee (PSC), this process measures a state regulatory agency's ability and resources to effectively carry out its regulatory and supervisory programs.
More than 85 percent of state chartered credit union assets are supervised by NASCUS' 26 accredited state agencies.
To earn NASCUS prestigious accreditation, a state supervisory agency must demonstrate that it meets accreditation standards in these six areas:
- Department Administration & Finance
- Legislative Powers
The considerable benefits of accreditation for state agencies include creating a benchmark of standardized regulatory procedures and best practices as well as a methodology for measuring effectiveness.
Accreditation is credible evidence of an agency's capabilities. It provides recognition of the professionalism of a state agency's regulators, supervisors and staff. It may also provide the impetus and support for legislation that modifies and/or modernize state law.
Accreditation benefits state-chartered credit unions as well. Accreditation means that the state regulatory agency met the highest levels of regulatory proficiency.
In preparation for an on site examination by the Accreditation Review Team (ART), state agencies complete the Self Evaluation Review for Accreditation (SERA). The SERA is submitted and forms the basis for the on-site review, ART findings and recommendations on approval by the PSC.
Several states are now working toward accreditation by completing the Self Evaluation Review for Accreditation (SERA).
For more information or additional resources on the NASCUS Accreditation Program, please contact Tammy Gentilini, NASCUS Director of Accreditation & Examiner Programs, at email@example.com.
NASCUS Congratulates the Accredited State AgenciesMichigan (1989)
North Carolina (1992)
North Dakota (2000)