Dual Charter Resource Initiative
NASCUS Dual Charter Resource Initiative
In 2021, NASCUS launched the Dual Charter Resources Initiative (DCRI), a sponsorship opportunity for credit union system stakeholders who value a vibrant dual-chartering system.
State charter advances to benefit the entire credit union system, from state and federal regulators to state and federally chartered credit unions and their members. It is essential to the system’s vibrancy that we, as a collective advocate for the state credit union system, work hand in hand to address the challenges ahead. With this initiative, NASCUS proactively addresses oversight balance, state-charter competitiveness, and resource distributions.
The state-charter option is a source of meaningful benefit to the credit union system. State regulators are an essential partner in the industry’s success due to their familiarity with local competitive environments and understanding that innovation is necessary for prosperity. As a pivotal partner between credit unions and state regulators, NASCUS created the DCRI to enhance industry partnerships and develop long-term growth frameworks strategically.
Projects completed to date
As one of the DCRI initiatives, NASCUS, in coordination with the state regulators and leagues, began the process of creating a reference guide for each state outlining the intricacies of each state’s regulatory environment and the benefits posed by its charter compared to the federal charter. This reference guide provides a broad 360-degree view of the relevant state charter, state regulator, and links to important statutory and regulatory citations necessary to understand the regulatory schema.
NASCUS is proud to provide the first set of these guides, which includes:
The first set of guides completed includes:
- California
- Colorado
- Connecticut
- Florida
- Georgia
- Indiana
- Iowa
- Louisiana
- Massachusetts
- Michigan
- Minnesota
- New Mexico
- New York
- North Carolina
- Ohio
- Oregon
- Pennsylvania
- Texas
- Virginia
- Washington
The “Benefits of the State Charter” documents can be found here and in the “Around the States” portion of the NASCUS website under the applicable state link, and may also be posted by the related state supervisory agency and/or credit union league. NASCUS will continue to work with state agencies and leagues to develop similar guides for additional states and publish the results as that work progresses.
2025 Sponsors
NASCUS thanks Corporate Central Credit Union for its ongoing commitment to the Dual Charter Resource Initiative (DCRI). Your support has been instrumental in driving progress, and we truly appreciate your partnership. Our early DCRI sponsors recognize that a robust dual charter system going forward will assure the continued dynamism of the U.S. credit union system.
NASCUS invites state and federal credit unions into its membership ranks to support a robust dual-chartering system. Their financial support helps NASCUS operate general advocacy of the state system and create relevant educational and training programs for state regulators and the credit union industry. Funds received from DCRI sponsors will be used to enhance the value created by the state charter. Activities enabled by the initiative would fall into one of four categories that affect the industry as a whole:
- Pursuing progressive legislation and regulation
- Building relationships to foster charter innovation
- Leaning against unnecessary federal pre-emption
- Expanding awareness of options available to state-chartered credit unions