Dual Charter Resource Initiative

NASCUS Dual Charter Resource Initiative

In 2021, NASCUS launched the Dual Charter Resources Initiative (DCRI), a sponsorship opportunity for credit union system stakeholders who value a vibrant dual-chartering system.

State charter advances to benefit the entire credit union system, from state and federal regulators to state and federally chartered credit unions and their members. It is essential to the system’s vibrancy that we, as a collective advocate for the state credit union system, work hand in hand to address the challenges ahead. With this initiative, NASCUS proactively addresses oversight balance, state-charter competitiveness, and resource distributions.

The state-charter option is a source of meaningful benefit to the credit union system. State regulators are an essential partner in the industry’s success due to their familiarity with local competitive environments and understanding that innovation is necessary for prosperity. As a pivotal partner between credit unions and state regulators, NASCUS created the DCRI to enhance industry partnerships and develop long-term growth frameworks strategically.

Projects completed to date

As one of the DCRI initiatives, NASCUS, in coordination with the state regulators and leagues, began the process of creating a reference guide for each state outlining the intricacies of each state’s regulatory environment and the benefits posed by its charter compared to the federal charter. This reference guide provides a broad 360-degree view of the relevant state charter, state regulator, and links to important statutory and regulatory citations necessary to understand the regulatory schema.

NASCUS is proud to provide the first set of these guides, which includes:

The “Benefits of the State Charter” documents can be found in the Around the States portion of the NASCUS website under the applicable state link, and may also be posted by the related state supervisory agency and/or credit union league. NASCUS will continue to work with state agencies and leagues to develop similar guides for additional states and publish the results as that work progresses.

NASCUS invites state and federal credit unions into its membership ranks to support a robust dual-chartering system. Their financial support helps NASCUS operate general advocacy of the state system and create relevant educational and training programs for state regulators and the credit union industry. Funds received from DCRI sponsors will be used to enhance the value created by the state charter. Activities enabled by the initiative would fall into one of four categories that affect the industry as a whole:

  • Pursuing progressive legislation and regulation
  • Building relationships to foster charter innovation
  • Leaning against unnecessary federal pre-emption
  • Expanding awareness of options available to state-chartered credit unions


NASCUS thanks CUNA Mutual and ASI as Champion sponsors and PSCU and NCB as Partner sponsors. Our early DCRI sponsors recognize that a robust dual charter system going forward will assure the continued dynamism of the U.S. credit union system.

(Click on company names to learn more.)

Champion Level

  • TruStage
  • American Share Insurance (ASI)

Leader Level

  • Corporate Central Credit Union

Partner Level

  • PSCU
  • National Cooperative Bank
  • Origence

To participate in the initiative, please contact Dr. Isaida Woo, Senior Vice President, Corporate Affairs and Education 


“When NASCUS shared their vision for the Dual Charter Resource Initiative, it was an easy decision to support this important program,” said Robert N. Trunzo, President and CEO, TruStage. “A strong state credit union system benefits our credit union partners and the consumers we collectively serve as we work together to make brighter financial futures accessible to everyone.” 

Dennis Adams, President and CEO of ASI stated, “ASI is proud to support NASCUS’ Dual Charter Resource Initiative because we fundamentally believe that credit unions should have choices in their charter structure. Like NASCUS, ASI believes that the Dual Charter Resource Initiative is critical in sustaining long-term growth for the industry as a whole. We are honored to join a program designed to ensure a sustainable and dynamic state-charter system thrives.” 

Chuck Fagan, President and CEO, PSCU commented “As the nation’s leading payments credit union service organization, PSCU understands that credit unions must be able to innovate to stay competitive. In line with our commitment to helping our credit unions prepare for the future, we are proud to support the Dual Charter Resource Initiative with NASCUS to create a strong and vibrant state-charter system. Grounded in a cooperative spirit, this initiative offers credit unions the ability to develop innovative solutions while staying flexible and efficiently serving their members.”    

Casey Fannon, President and Acting CEO of National Cooperative Bank commented “NCB is committed to offering credit unions, leagues, and CUSO’s strategic banking solutions and has been a strong supporter of credit unions for over 40 years. When approached by NASCUS to contribute to the Dual Charter Resource Initiative, it made sense to direct efforts to advance innovation and support the long-term sustainability of the state credit union system, which impacts the entire the credit union system.”