Michigan Earns NASCUS Reaccreditation

June 13, 2014 The National Association of State Credit Union Supervisors (NASCUS) recently approved the reaccreditation of the Michigan Department of Insurance and Financial Services Office of Credit Unions (DIFS OCU). Michigan was the first state to earn NASCUS’ accreditation in 1989.

The DIFS OCU, which is led by Director John Kolhoff, supervises 187 credit unions with combined assets of approximately $35 billion.

“We congratulate OCU Director John Kolhoff and the Michigan agency for their ongoing commitment to supervisory excellence,” said NASCUS President and CEO Mary Martha Fortney. “In becoming reaccredited, the agency has met the highest levels of regulatory proficiency.”

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 accreditation, an agency’s qualifications are evaluated by an Accreditation Review Team (ART), who 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.

 

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