AUSTIN, Texas–The Texas Credit Union Department has earned reaccreditation from the National Association of State Credit Union Supervisors (NASCUS) 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,” said John J. Kolhoff, commissioner of the Texas Credit Union Department. “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."
According to Arlington, Va.-based NASCUS, its 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, NASCUS stated.
‘Direct Evidence of Capabilities’
“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, NASCUS said 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.
Added Ito, “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.”
‘National Performance Standards’
NASCUS noted it 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,” the organization said.
For info: https://www.nascus.org/state-activities/accreditation/