REGULATING AGENCY: Ohio Department of Commerce; Division of Financial Institutions
- Kevin Allard, Superintendent
- Rob Rutkowski, Deputy Superintendent for Credit Unions
- Website: com.ohio.gov/fiin
LEAGUE: Ohio Credit Union League
STATS: (As of Dec 2020)
- TOTAL # SCUs: 109
- TOTAL # FCUs: 134
- SCU % OF TOTAL (SCUS #/STATE TOTAL #): 45% of 243 OH CUs
- TOTAL $ SCU ASSETS: $27,483,045,963
- TOTAL $ FCU ASSETS: $11,096,491,832
- TOTAL ASSETS: $38,579,537,795
- SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 71%
FUN FACT: Ohio native John Glenn was the oldest man to venture into space. Orbiting the earth in 1962, he returned to the space program and traveled back into space at age 77, in Oct. 1998.
July 15, 2021 – The National Association of State Credit Union Supervisors (NASCUS) is proud to announce Ohio has earned Re-Accreditation following a series of in-depth reviews and assessments by a panel of veteran state supervisors.
The Ohio Department of Commerce/Division of Financial Institutions to be the first state supervisory authority to become accredited under all four accreditation programs: credit union (via the NASCUS Accreditation Program), bank (via CSBS), mortgage and money service business (MSB, also both via CSBS).
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.”
NASCUS accreditation is a robust process that includes disciplined self-evaluation, peer review, and ongoing monitoring. The process, administered by the NASCUS Performance Standards Committee (PSC), measures a state regulatory agency’s ability and resources to carry out its regulatory and supervisory programs effectively.
Click on the title to read the full release.
Click here to take a look at the stories that have been collected over the years in Ohio.
What’s new in your state?
Click here to submit your state-chartered credit union news stories to NASCUS today!