(July 30, 2021) Chalk up the Washington Department of Financial Institutions–Credit Union Division as another state regulatory agency that has undertaken the rigorous process of earning re-accreditation through the NASCUS program. Under the process, the state agency undergoes a series of in-depth reviews and assessments by a panel of veteran state supervisors, assembled by NASCUS.
“Our department examines state-chartered credit unions operating in Washington to ensure their compliance with our laws,” said Charlie Clark, director of the WA Department of Financial Institutions. “The value of NASCUS accreditation is that it shows our stakeholders that as examiners and as an agency we meet the highest standards nationally and are following best practices. I am proud of our team for receiving accreditation.”
To earn accreditation, a credit union state supervisory agency must demonstrate that it meets standards in agency administration and finance, personnel and training, examination, supervision, and legislative powers. The process includes disciplined self-evaluation, peer review, and ongoing monitoring. It is administered by the NASCUS Performance Standards Committee (PSC).
The program was developed in 1989; it is modeled on the university accreditation concept, applying national performance standards to a state’s credit union regulatory program.
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Washington State DFI Receives 2021 NASCUS Re-Accreditation
(July 16, 2021) NASCUS has joined the “I Love My CU” program developed by the Illinois Credit Union League, and will participate in the July 30 social media platform effort to raise awareness about credit unions and share stories about the things they do to help consumers and their communities. A key part of the program: posting, on the same day, social media messages with the same message, with the same hashtag ‘’ #ilovemycreditunion.
NASCUS continually updates its “Around the States” section on nascus.org, with the latest developments within the state system, state by state. Among states with latest updates are Indiana, California, Idaho, Illinois, Louisiana, Nebraska (and more). For more details on the very latest (in Indiana), see the link below.
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Details on I Love My Credit Union