State of Connecticut Department of Banking Receives NASCUS Reaccreditation

FOR IMMEDIATE RELEASE
January 13, 2025

State of Connecticut Department of Banking Receives NASCUS Reaccreditation

ARLINGTON, VIRGINIA – The National Association of State Credit Union Supervisors (NASCUS) proudly announces that the State of Connecticut Department of Banking, Financial Institutions Division, has successfully achieved reaccreditation.

“This reaccreditation highlights the dedication and expertise of our staff in upholding the highest standards of regulatory and supervisory excellence,” said Connecticut Banking Commissioner Jorge Perez. “The NASCUS Accreditation program ensures that our practices are both rigorous and effective. It also offers valuable insights through independent peer reviews and ongoing monitoring, helping us to continuously improve and enhance our regulatory responsibilities. We greatly value our partnership with NASCUS and its support for our mission.”

The reaccreditation follows a thorough evaluation by the NASCUS Performance Standards Committee (PSC), comprised of seasoned regulators from accredited state agencies. The NASCUS Accreditation program provides an in-depth review and continuous oversight, ensuring that state regulatory agencies uphold the highest standards of excellence.

“This peer-reviewed program recognizes the expertise of state credit union regulators in maintaining high standards of proficiency while optimizing resources,” said NASCUS President and CEO Brian Knight. “Accreditation also offers valuable insights to enhance regulatory and supervisory practices, further strengthening agencies and state charters.”

To achieve reaccreditation, the Financial Institutions Division demonstrated compliance across key areas, including agency administration, personnel and training, examination procedures, supervision practices, and legislative authority.

Launched in 1989, the NASCUS Accreditation program is modeled after the university accreditation system and applies national performance standards to state credit union regulatory programs. The program is a cornerstone of NASCUS’s commitment to ensuring regulatory excellence and fostering innovation in state credit union supervision.

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/