REGULATING AGENCY: Indiana Department of Financial Institutions; Division of Credit Unions
- Tom Fite, Director
- Chris Dietz, Deputy Director
- Website: in.gov/dfi/2374.htm
LEAGUE: Indiana Credit Union League
STATS: (As of Dec 2020)
- TOTAL # SCUs: 38
- TOTAL # FCUs: 112
- SCU % OF TOTAL (SCUS #/STATE TOTAL #): 25% of 150 IN CUs
- TOTAL $ SCU ASSETS: $18,851,944,300
- TOTAL $ FCU ASSETS: $16,987,195,961
- TOTAL ASSETS: $35,839,140,261
- SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 53%
FUN FACT: In Fort Wayne, Syvanus F. Bower designed the world’s first practical gasoline pump.
July 15, 2021 – The National Association of State Credit Union Supervisors (NASCUS) is proud to announce Indiana has earned Re-Accreditation following a series of in-depth reviews and assessments by a panel of veteran state supervisors.
More than 88% of the $989 billion in state-chartered credit union assets are supervised by NASCUS’ 28 accredited state agencies.
“Accreditation is direct evidence of an agency’s capabilities and benefits all credit unions in the state as well,” said NASCUS President and CEO Lucy Ito. “It recognizes the professionalism of a state agency’s regulators, supervisors, and staff, while potentially delivering an impetus and support for legislation to modernize state law and policy changes to advance state supervisory processes and best practices.”
Indiana Director Tom Fite explained, “Accreditation establishes an independent measure of quality control for each accredited agency, and equally important Accreditation establishes benchmarks that drive regulatory consistency. Our efforts to achieve these established benchmarks drive us to remain current with the best-known supervisory processes and practices deployed nationwide. Standards are transparent and best practices shared, yielding greater consistency across the State system. Accreditation pushes the Indiana DFI to provide best in class supervisory support to Hoosiers.”
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