FOR IMMEDIATE RELEASE
May 16, 2017

Wisconsin earns reaccreditation; 4th time since 2001

ARLINGTON, Va. -- Reaccreditation for five years has been earned by Wisconsin Office of Credit Unions from NASCUS – the fourth accreditation for the state credit union regulator since 2001, the association announced today.

“Reaccreditation is a significant achievement, representing the effectiveness and sound supervision of the state credit union regulatory system,” said NASCUS President and CEO Lucy Ito. “Congratulations to Director Kim Santos and the OCU, and the 143 Wisconsin state-chartered credit unions, which hold just more than $31 billion in assets.”

NASCUS accreditation is valid for a five-year period subject to annual review. The annual review process enables the accredited agency and the NASCUS Performance Standards Committee (PSC) to measure progress and improvement.

To earn accreditation, an agency’s qualifications are evaluated by an Accreditation Review Team (ART), which completes a thorough examination of the agency’s accreditation application and supporting documents, followed by three days of intense on-site scrutiny of agency programs and performance.   

The Wisconsin Office of Credit Unions (OCU) is an independent unit attached to the Wisconsin Department of Financial Institutions (DFI) for administrative support. The examination functions of OCU are divided into two regions: Region I (Milwaukee and Fox Valley) and Region II (Madison and Wausau).

LINK:

NASCUS Accreditation/Certification Program (and contact info)

Information Contact:
Patrick Keefe, Vice President, Communications, pkeefe@nascus.org or (703) 528-5974

The National Association of State Credit Union Supervisors (NASCUS) is the primary resource and voice of the state governmental agencies that charter, regulate and examine the nation’s state-chartered credit unions. NASCUS membership is made up of state-chartered credit unions, state regulators and other supporters of the state credit union system. NASCUS is the only organization dedicated to the defense and promotion of the state credit union charter and the autonomy of state credit union regulatory agencies.