RALEIGH, N.C.– Kristina Ray has been appointed as Administrator of the North Carolina Credit Union Division, effective July 1, 2023, succeeding the retiring Rose Conner.
Ray joined the North Carolina Credit Union Division in 2019 and was promoted to assistant administrator in 2021. Before joining the Division, she was an examiner for the West Virginia Division of Banking, and subsequently became director of regulatory operations, overseeing examination functions for all depository and non-depository entities in that state, according to NASCUS.
Between 2005 and 2019, she served as an examiner with the North Carolina Commissioner of Banks, following her time working in a state-chartered credit union. She received a B.S. in Business Administration from Meredith and graduated with distinction from the Southwestern Graduate School of Banking at Southern Methodist.
“I am honored to be appointed the next administrator,” said Ray. “I look forward to using my experience in financial institution regulation to serve, promote, and support the North Carolina Credit Union Division, our 31 state-chartered credit unions, and the 3.2 million North Carolinians who are members of those institutions.”
Added NASCUS, “This new role is a testament to the trust and confidence that the state of North Carolina has in Kristina, recognizing her tireless work, exceptional skills, and remarkable abilities. This is a great accomplishment for Ms. Ray, and we are excited to work with her more in the future.”
The North Carolina Division was created in 1915 and currently oversees 31 state-chartered CUs with $56.6 billion in assets.
North Carolina CU Division Earns NASCUS Accreditation
Separately, the National Association of State Credit Union Supervisors (NASCUS) said the North Carolina Credit Union Division has earned Accreditation following a series of in-depth reviews and assessments by a panel of veteran state supervisors.
“NASCUS’ Accreditation is highly significant for our Division. It's crucial for stakeholders to have complete confidence in our commitment to strong national standards and our consistent ability to meet those standards and processes,” commented Rose Conner, administrator of the North Carolina Credit Union Division. “Independent professionals thoroughly reviewed our Division to establish our continued credibility and ensure we follow best practices and provide excellent service to North Carolina’s state-chartered credit unions and consumers. I'm proud of our team's 2023 Accreditation.”
‘Thorough Evaluation’
According to NASCUS, the Accreditation process entails a thorough evaluation and continuous monitoring carried out by the NASCUS Performance Standards Committee (PSC), consisting of experienced 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,” said 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.”
How to Obtain Accreditation
To obtain Accreditation, NASCUS said 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.
NASCUS noted it 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,” NASCUS said.
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