REGULATING AGENCY: Vermont Department of Financial Regulation
- Michael Pieciak, Commissioner
- Molly Dillon, Deputy Commissioner of Banking
- Website: dfr.vermont.gov
- Press Releases
- Industry News
LEAGUE: Association of Vermont Credit Unions
STATS: (As of Dec 2020)
- TOTAL # SCUs: 12
- TOTAL # FCUs: 6
- SCU % OF TOTAL (SCUS #/STATE TOTAL #): 67% of 18 VT CUs
- TOTAL $ SCU ASSETS: $1,806,291,351
- TOTAL $ FCU ASSETS: $3,937,084,826
- TOTAL ASSETS: $5,743,376,177
- SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 31%
FUN FACT: Ben & Jerry’s Ice Cream company gives their ice cream waste to the local Vermont farmers who use it to feed their hogs. The hogs seem to like all of the flavors except Mint Oreo.
July 15, 2021 – The National Association of State Credit Union Supervisors (NASCUS) is proud to announce Vermont 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.”
“Our department routinely examines the financial firms operating in Vermont to ensure their compliance with our laws. Accordingly, it is important for independent experts to examine our department’s operations to ensure we are following best practices and providing the highest level of service to Vermonters,” said Vermont Commissioner Michael Pieciak. “I am proud of our team for receiving Accreditation.”
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