PRESS RELEASE

June 22, 2010

Utah Re-accredited by NASCUS

Arlington, Va. — NASCUS recently re-accredited the Utah Department of Financial Institutions (DFI). This is the fourth consecutive re-accreditation for Utah, first accredited in 1995.

The Utah agency is responsible for the examination and supervision of 52 natural person credit unions with combined assets of more than $1.8 billion. NASCUS' 28 accredited states supervise more than 85 percent of the nation's state-chartered credit union assets.

"The NASCUS re-accreditation process is a great opportunity for our department to re-evaluate what we do and how we do it," said Orla Beth Peck, supervisor of credit unions for the Utah Department of Financial Institutions. "We are always looking for ways to improve our program and the peer review process of NASCUS re-accreditation process every five years helps us achieve this goal."

NASCUS accreditation is valid for a five-year period subject to annual review. The annual review process enables the accredited agency and the NASCUS Performance Standards Committee (PSC) to measure progress and improvement. To earn NASCUS prestigious accreditation, a state supervisory agency must demonstrate that it meets accreditation standards in these six areas: department administration and finance, personnel, training, examination, supervision and legislative powers.


Information Contact:
Kate Hartig, VP, Public Relations and Legislative Affairs, (703) 528-0669 or kate@nascus.org
The NASCUS mission is to enhance state credit union supervision and advocate a safe and sound state credit union system.