MONTGOMERY, Ala.– Following a series of in-depth reviews and assessments by a panel of veteran state supervisors, the Alabama Credit Union Administration has received Accreditation from NASCUS.
NASCUS said its Accreditation entails a thorough evaluation and continuous monitoring carried out by the NASCUS Performance Standards Committee (PSC), consisting of experienced regulators from accredited state agencies.
“The NASCUS Accreditation program provides a review of our operations, assures that quality standards for examination and supervision are appropriate and identifies practices to improve upon,” said H. Greg McClellan, administrator at the Alabama Credit Union Administration. “The process measures our state regulatory agency’s ability and resources to effectively carry out our regulatory and supervisory programs.
“It is a valuable exercise to have an independent peer review by a team of experts in our field of responsibilities coupled with ongoing monitoring that assists us in meeting standards for ACUA’s team relating to examinations, supervision, and overall operations,” McClellan added. “We value the NASCUS Accreditation program along with the other information and services provided through NASCUS.”
Achievements Recognized
Added NASCUS President and CEO Brian Knight, “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. 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.”
NASCUS said that 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.
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