Missouri Division of Credit Unions Receives NASCUS Reaccreditation

Missouri Division of Credit Unions Receives NASCUS Reaccreditation

Jan. 26, 2023 – The National Association of State Credit Union Supervisors (NASCUS) is proud to announce that the Missouri Division of Credit Unions has earned Reaccreditation following a series of in-depth reviews and assessments by a panel of veteran state supervisors.

“The mission of the Division of Credit Unions is to ensure the safety and soundness of Missouri’s state-chartered credit unions,” stated division director Ken Bonnot. “The Division’s reaccreditation by NASCUS confirms our commitment to safeguarding member assets and preserving the integrity of Missouri’s credit union industry.”

NASCUS Accreditation is a robust process that includes disciplined self-evaluation and ongoing monitoring administered by the NASCUS Performance Standards Committee (PSC), a group of senior 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,” commented 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.”

To earn Accreditation, 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.

NASCUS 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.

To learn more about the NASCUS Accreditation program, visit: https://www.nascus.org/state-activities/accreditation/