Seven states up for NASCUS re-accreditation

ARLINGTON, Va. - Seven states which originally earned their NASCUS accreditation status in 1995 are up for re-accreditation this year. The states are: Idaho, Tennessee, Connecticut, Indiana, Utah, Kansas and Missouri. The NASCUS accreditation status means that the NASCUS Accreditation Review Team, the Accreditation Audit Committee, and the Performance Standards Committee have concluded that the states' credit union regulatory agencies meet the criteria necessary to fulfill their statutory responsibility to charter, examine, supervise and regulate the credit unions chartered in their state. To be accredited, an agency has to complete a time and labor-intensive process that includes the completion of a self-examination questionnaire that obligates the agency to analyze funding, training, agency personnel, its examination and supervision capabilities, and its legislative powers. Once accredited, agencies undergo annual review to maintain their accreditation for a period of five years. At that time, the agency must complete the entire accreditation process again to retain its status. In addition to the seven states, Louisiana was also eligible to be re-accredited and it's already completed the necessary process. At press time, 23 state regulatory agencies had earned NASCUS accreditation status.