Aaron Ferenc Appointed to the Performance Standards Committee

NASCUS Announces the Appointment of Vermont’s Aaron Ferenc to the Performance Standards Committee

ARLINGTON, VIRGINIA – The National Association of State Credit Union Supervisors (NASCUS) has announced the appointment of Aaron Ferenc, the Deputy Commissioner of Banking at the Vermont Department of Financial Regulation (DFR), to the NASCUS Performance Standards Committee (PSC) for a two-year term. The PSC is responsible for setting the policies for the NASCUS Accreditation Program and establishing the standards for credit union supervisory agencies to acquire and maintain NASCUS Accreditation.

“I am excited to expand and grow my participation with NASCUS and continue to offer my regulatory perspective to strengthen the state credit unions system. I look forward to working with the PSC to continue maintaining high standards and adapting to our evolving regulatory environment,” stated Ferenc.

Ferenc has been with the DFR for 20 years and was appointed Deputy Commissioner of Banking in October 2022. He previously served as the Director of Examinations for seven years and as a field examiner for twelve years, with a focus on conducting examinations of Credit Unions, Banks, and Trust Companies.

“We are extremely pleased with Aaron’s appointment to the Performance Standards Committee. I have known Aaron for the past 20 years, as we both began our examination careers simultaneously and underwent training together. Throughout this period, Aaron has demonstrated remarkable regulatory abilities, and his accreditation review works has been of high quality. I look forward to working with Aaron on the committee,” commented Corey Krebs, NASCUS PSC Chair and North Dakota Department of Financial Institutions Assistant Commissioner.

Ferenc represented the Department of Financial Regulation on the Tax and Regulate Subcommittee of the Governor’s Marijuana Advisory Committee. He frequently provides testimony on the Department’s policy concerning Marijuana Banking matters. Ferenc holds a Bachelor of Science in Business Administration from the University of Vermont. He is married with two children and enjoys skiing, mountain biking, and outdoor activities with his family.

In 1989, NASCUS started designing the Accreditation program to manage and guarantee the quality of state credit union examination and supervision standards. This program, patterned after the concept of university accreditation, utilizes national performance standards to evaluate a state’s credit union regulatory program. A state credit union supervisory agency must prove that it satisfies the accreditation criteria in agency administration and finance, personnel and training, examination, supervision, and legislative authority to obtain Accreditation.

Click here to learn more about NASCUS’s Committees and their impact on the credit union system. Click here to learn more about the NASCUS Accreditation program.