(Dec. 3, 2021) The latest state supervsor to earn reaccreditation from NASCUS is the Texas Credit Union Department, following the series of in-depth reviews and assessments by a panel of veteran state supervisors.
Both Texas Commissioner John J. Kolhoff and NASCUS President and CEO Lucy Ito noted the significance of the certification.
“Reaccreditation demonstrates the value we as examiners and an agency provide to the industry and its members,” said Kolhoff, who also serves as secretary/treasurer of the NASCUS Regulator Board “Our credit union examination department ensures compliance with our laws while following best practices to meet the highest national standards in our supervision of more than $54 billion in assets across 175 credit unions. I am proud of our team for receiving the NASCUS Reaccreditation.”
Ito noted that accreditation is express evidence of an agency’s capabilities, which benefits all credit unions in the state. “This program recognizes the professionalism of a state agency’s regulators, supervisors, and staff while potentially delivering support for state law modernization and policy changes to advance state supervisory processes and best practices,” she said.
To earn the certification, a state supervisory agency must demonstrate it meets accreditation standards in agency administration and finance, personnel and training, examination, supervision, and legislative powers.
NASCUS began developing the program in 1989; it is modeled on the university accreditation concept by applying national performance standards to a state’s credit union regulatory program.