Michigan Department of Insurance and Financial Services Receives NASCUS Reaccreditation

FOR IMMEDIATE RELEASE
May 14, 2025

Michigan Department of Insurance and Financial Services Receives NASCUS Reaccreditation

ARLINGTON, VIRGINIA – The National Association of State Credit Union Supervisors (NASCUS) is pleased to announce that the Michigan Department of Insurance and Financial Services (DIFS), Office of Credit Unions has successfully earned reaccreditation. Michigan was the first state to receive NASCUS Accreditation in 1989.

“This reaccreditation demonstrates our department’s reliable supervisory programs and commitment to the rigorous standards set by NASCUS,” said Director Anita Fox. “We appreciate the support and partnership that NASCUS provided throughout the reaccreditation process, which is essential for the state-based regulation of credit unions.”

This achievement follows a rigorous series of in-depth reviews and evaluations conducted by the NASCUS Performance Standards Committee (PSC), a panel of experienced regulators from accredited state agencies. The NASCUS Accreditation process involves a comprehensive assessment and continuous monitoring to ensure the highest standards of regulatory excellence are met and maintained.

“The NASCUS Accreditation program is a rigorous, peer-reviewed process that showcases the exceptional dedication and expertise of state credit union regulators,” said NASCUS President and CEO Brian Knight. “Earning Accreditation affirms an agency’s commitment to the highest standards of regulatory excellence, operational effectiveness, and supervisory integrity. Ultimately, Accreditation strengthens not just the agency but the entire state charter system.”

To obtain Accreditation, a credit union state supervisory agency must demonstrate compliance with the accreditation standards in areas such as agency administration and finance, personnel and training, examination, supervision, and legislative powers.

NASCUS began developing the Accreditation program in 1989 to administer and ensure states’ credit union examination and supervision quality standards. This program, modeled on the university accreditation concept, applies national performance standards to a state’s credit union regulatory program.

To learn more about the NASCUS Accreditation program, visit: https://www.nascus.org/state-activities/accreditation/

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