November 19, 2009

NASCUS Chairman Meets with Northeast State Regulators to Begin Regional Meeting Series

Old Saybrook, CT — More than 20 state regulators representing eight states joined Vermont state regulator Tom Candon for his first regional regulator meeting as NASCUS Chairman on November 17.

Candon, the deputy commissioner of banking and securities for the Vermont Department of Banking, Insurance, Securities and Health Care Administration, is continuing the regional regulator meetings into 2010, a series which began more than five years ago. The small group meetings provide a valuable opportunity for discussion of NASCUS initiatives, as well as regional regulator concerns and national policy issues.

The regulators discussed current pressing regulatory and legislative topics including the regulation of corporate credit unions, examination schedules, supplemental capital, regulatory reform and interstate branching. The in-person meetings are complimentary to regular teleconferences and national state regulator gatherings held by NASCUS for regulator-to-regulator dialogue.

"In-person dialogue among my state regulator colleagues is incredibly important, especially now as we navigate through the current economic downturn. As regulators, we are faced with the challenge of insuring that credit unions maintain a safe and sound financial condition regardless of the economic conditions impacting their members. I look forward to meeting with state credit union regulators from throughout the country to better understand how NASCUS can address the regional and national issues affecting our membership."

The regional regulator meeting series will continue in January 2010. NASCUS leadership will meet with state regulators in Atlanta, Georgia on January 11 and in San Francisco, California on January 13. NASCUS is also planning a regional regulator meeting in the Midwest. More information will be announced on the NASCUS Web site at

Information Contact:
Kate Hartig, VP, Public Relations and Legislative Affairs, (703) 528-0669 or
The NASCUS mission is to enhance state credit union supervision and advocate a safe and sound state credit union system.