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ARLINGTON, Va. – NASCUS accepted an invitation from Federal Reserve Board Gov. Susan Bles and met with her and several Federal Reserve Board staff the week of Dec. 8 to educate them on state regulator oversight of state-chartered credit unions. According to NASCUS, Gov. Bles and her staff were particularly interested in the regulatory oversight of privately insured credit unions. Their discussions included the regulatory and examination oversight and supervision of state-chartered credit unions by both their insurer and their state chartering authority. In explaining private share insurance, NASCUS acknowledged that private share insurance can be a divisive issue and that there’s even a difference of opinion on the subject among state regulators. NASCUS Acting President and CEO Mary Martha Fortney described the meeting as “productive” and “encouraging” and noted that Gov. Bles expressed an interest in meeting again with NASCUS to discuss credit union system issues.

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