PRESS RELEASE

KENTUCKY, OHIO CREDIT UNION REGULATORS EARN REACCREDITATION
Bluegrass state agency oversees 24 CUs; Buckeye state regulator supervises 139 CUs

Reaccreditation for state credit union regulatory agencies in Kentucky and Ohio has been approved by NASCUS, following the two agencies’ recent five-year reviews.

Kentucky has earned its sixth NASCUS accreditation since winning its first in 1992; Ohio has achieved its fourth NAFCU accreditation since its first was awarded in 2001. The Ohio agency earned a joint accreditation with the Conference of State Bank Supervisors (CSBS).

NASCUS President and CEO Lucy Ito congratulated both Charles Vice, commissioner of the Kentucky Department of Financial Institutions, and Kevin R.  Allard, interim superintendent of the Ohio Division of Financial Institutions, on earning the certifications. “Being reaccredited is a significant achievement and represents the effectiveness and sound supervision of the state credit union regulatory system,” Ito said.

The 24 state-chartered credit unions overseen by the Kentucky regulatory program hold total assets of just more than $3.5 billion. The 139 credit unions supervised by Ohio hold $18.8 billion in assets.

NASCUS accreditation is valid for a five-year period subject to annual review, which enables the accredited agency and the

NASCUS Performance Standards Committee (PSC) to measure progress and improvement.
To earn accreditation, an agency’s qualifications are evaluated by an Accreditation Review Team (ART), which completes a thorough examination of the agency’s accreditation application and supporting documents, followed by three days of intense on-site scrutiny of agency programs and performance.   

For questions about NASCUS accreditation, please contact the Director of Accreditation and Examiner Programs Tammy Gentilini at tgentilini@nascus.org or by phone (703) 528-0811.

Information Contact:
Patrick Keefe, Vice President, Communications, pkeefe@nascus.org or (703) 528-5974

The National Association of State Credit Union Supervisors (NASCUS) is the primary resource and voice of the state governmental agencies that charter, regulate and examine the nation’s state-chartered credit unions. NASCUS membership is made up of state-chartered credit unions, state regulators and other supporters of the state credit union system. NASCUS is the only organization dedicated to the defense and promotion of the state credit union charter and the autonomy of state credit union regulatory agencies.