FOR IMMEDIATE RELEASE
November 29, 2021
Texas Credit Union Department Receives 2021 NASCUS Reaccreditation
ARLINGTON, VIRGINIA – The National Association of State Credit Union Supervisors (NASCUS) is proud to announce the Texas Credit Union Department has earned Reaccreditation following a series of in-depth reviews and assessments by a panel of veteran state supervisors.
“Reaccreditation demonstrates the value we as examiners and an agency provide to the industry and its members. Our credit union examination department ensures compliance with our laws while following best practices to meet the highest national standards in our supervision of more than $54 billion in assets across 175 credit unions. I am proud of our team for receiving the NASCUS Reaccreditation.” commented John J. Kolhoff, Commissioner, Texas Credit Union Department.
NASCUS Accreditation is a robust process that includes disciplined self-evaluation, peer review, and ongoing monitoring. The process, administered by the NASCUS Performance Standards Committee (PSC), measures a state regulatory agency’s ability and resources to carry out its regulatory and supervisory programs effectively.
“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. “This program recognizes the professionalism of a state agency’s regulators, supervisors, and staff while potentially delivering support for state law modernization and policy changes to advance state supervisory processes and best practices.”
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’ Lucy Ito further stated, “This achievement not only benefits regulators but also state-chartered credit unions, members, and the industry as a whole, by illustrating how a state agency has met the highest levels of regulatory proficiency.”
NASCUS began developing the Accreditation program in 1989 to administer and assure 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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