NASCUS Launches State Charter Resources

NASCUS Launches State Charter Resources

In 2021, NASCUS launched the Dual Charter Resources Initiative (DCRI) to fund initiatives designed to strengthen the credit union system and provide resources that support supervisory, regulatory, and operational innovation necessary for a safe, sound, and viable credit union industry.

As one of the DCRI initiatives, NASCUS, in coordination with the state regulators and leagues, began the process of creating a reference guide for each state outlining the intricacies of each state’s regulatory environment and the benefits posed by its charter compared to the federal charter. This reference guide provides a broad 360-degree view of the relevant state charter, the state regulator, and links to important statutory and regulatory citations necessary to understand the regulatory schema.

Today, NASCUS is proud to provide the first set of these guides, which includes Colorado, Michigan, and Texas.  The “Benefits of the State Charter” documents can be found in the “Around the States” portion of the NASCUS website under the applicable state link, and may also be posted by the related state supervisory agency and/or credit union league. NASCUS will continue to work with state agencies and leagues to develop similar guides for additional states and publish the results as that work progresses.

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This project, and the DCRI, are made possible by the generous support of the DCRI Donors:

• TruStage
• American Share Insurance (ASI)
• PSCU
• National Cooperative Bank
• Origence (CU Direct)