Minnesota Department of Commerce; Financial Institutions Credit Union Division Receives 2023 NASCUS Reaccreditation

FOR IMMEDIATE RELEASE
March 30, 2023  

Minnesota Department of Commerce; Financial Institutions Credit Union Division Receives 2023 NASCUS Reaccreditation

ARLINGTON, VIRGINIA – The National Association of State Credit Union Supervisors (NASCUS) is proud to announce that the Minnesota Department of Commerce; Financial Institutions Credit Union Division has earned Reaccreditation following a series of in-depth reviews and assessments by a panel of veteran state supervisors.

“As a great testament to the commitment and determination put forth by our team of Minnesota credit union examiners, the Minnesota Department of Commerce, Financial Institutions Credit Union Division is pleased to receive reaccreditation from NASCUS,” stated Minnesota Chief Examiner State Chartered Credit Unions, Aeton de Long-Hersh. “This process validates the diligent work our team accomplishes every day. It’s an honor to receive this designation.”

NASCUS Accreditation is a robust process that includes disciplined self-evaluation and ongoing monitoring administered by the NASCUS Performance Standards Committee (PSC), a group of senior regulators from accredited state agencies.

“This peer-reviewed program recognizes achievements of state credit union regulators to effectively carry out regulatory and supervisory programs in their operations and utilization of resources,” commented NASCUS President and CEO Brian Knight. “Achieving NASCUS Accreditation reflects the exceptional capabilities of state regulatory agencies and their ability to meet the highest level of regulatory proficiency and industry standards. Furthermore, the Accreditation review process can identify opportunities for statutory, regulatory, or supervisory changes to further enhance the agency and the state’s charter.”

To earn Accreditation, a credit union state supervisory agency must demonstrate that it meets accreditation standards in 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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