What is NASCUS?
The National Association of State Credit
Union Supervisors (NASCUS) is the
professional association of state
regulators representing the 48 state and
territorial agencies that charter, regulate
and supervise the nation’s statechartered credit unions.
State regulators
founded NASCUS in
1965 to share best
practices and engage in
dialogue to ensure the
safety and soundness
of the state credit union
system. More than 40
years later, NASCUS is
the primary voice and
resource for state
regulators representing their interests before Congress
and federal agencies. NASCUS is also the leading
provider of state examiner education programs.
NASCUS is advised by the Credit Union Advisory
Council, a national forum of progressive and innovative
state-chartered credit union executives and dual
chartering supporters. The Credit Union Advisory
Council provides dialogue and practical perspective on
regulatory and operational issues affecting statechartered credit unions.
Amendment X:
The powers not
delegated to the
United States by
the Constitution,
nor prohibited by it
to the States,
are reserved to the
States respectively,
or to the people.
National Association of
State Credit Union Supervisors
Founded 1965
National Association of
State Credit Union Supervisors
1655 North Fort Myer Drive, Suite 300
Arlington, VA 22209
Phone (703) 528-8351 • Fax (703) 528-3248
www.nascus.org
The NASCUS mission is to
enhance state credit union
supervision and advocate for
a safe and sound state
credit union system.
What Does NASCUS Do?
Resources
Liaison to Federal Agencies
NASCUS is the main repository for information on credit
union laws and regulations, supervisory agency operations
and emerging issues. NASCUS provides these valuable
resources to state agencies and publishes compliance
guides and research on pertinent topics for regulatory
professionals.
NASCUS maintains a positive working relationship with
federal agencies, including the National Credit Union
Administration (NCUA). The NCUA relies on the safety and
soundness reports prepared by state agencies making it
vitally important to continue the constructive interaction
and dialogue between state
regulators and the NCUA.
NASCUS and NCUA also collaborate on proposed rulemaking that affects state-chartered credit unions.
George Reynolds (GA) addresses
the Annual State System Summit
audience on current regulatory
issues.
NASCUS is a nationwide network for information sharing
across state regulatory agencies. The network promotes
best practices and efficiency in
examination and supervision.
We also provide frequent
opportunities for valuable regulator-to-regulator dialogue that
leads to innovation and
improvement in regulation
across the states.
Advocacy
NASCUS is the state regulatory voice before Congress
and federal agencies. We represent the interests of the
independent and autonomous state regulatory system.
NASCUS is the only organization focused on the
preservation of the credit union dual chartering system. We
understand that the viability of distinct and strong state
and federal charters is important to the sustainability and
continued growth of the credit union system. This belief
reinforces our commitment to preserving and defending
states’ rights as critical to maintaining not only state
authority, but charter choice.
NASCUS is often asked to testify before Congressional and
state committees on state regulatory and credit union
issues. We also provide information on the state credit
union system for Congressional financial services committees when research is needed for hearings or legislation.
NASCUS and NCUA signed an
updated Document of
Cooperation in 2007. At the signing ceremony, standing left to
right: NCUA Board member and
NASCUS liaison Gigi Hyland and
NASCUS President and CEO
Mary Martha Fortney. Sitting left
to right: NCUA Chairman JoAnn
Johnson and Linda Jekel (WA).
NASCUS works with other federal agencies on regulations
and issues affecting state regulators and state-chartered
credit unions. We comment on
proposed rules and provide
input, when appropriate, for
the rule-making processes of
agencies and organizations
including the Federal Reserve,
the Securities and Exchange
Commission and the Financial
Accounting Standards Board.
Accreditation
The NASCUS Accreditation Program, adopted in 1987,
supports the NASCUS mission to enhance state credit
union supervision and strengthen state regulatory
agencies. To earn accreditation, a state agency must
demonstrate that its credit union examination and
supervision program is of the highest professional quality.
The process evaluates all aspects of the agency's
operations and measures its performance in six areas:
• Department
Administration & Finance
• Personnel
• Training
• Examination
• Supervision
• Legislative Powers
Earning and maintaining NASCUS accreditation requires
disciplined self-evaluation and a commitment to performance excellence. Accredited states must successfully
demonstrate, through a system of peer review and ongoing
monitoring, that they have sufficient resources, capability,
policies and procedures to carry out a program that is
strong and effective in ensuring the safety and soundness
of the credit unions under
their supervision.
We know that strong educational offerings for the state credit
union examination force are essential to maintaining the
safety and soundness of the credit union system.
Administered by the NASCUS
Performance Standards
Committee (PSC), the
Accreditation Program is structured to enable agencies to
remain constantly focused on
the strength and effectiveness
of their regulatory programs.
Designation as a NASCUSaccredited agency is a significant accomplishment. The benefits and value are far-reaching.
In addition to NASCUS’ monthly webinars, NASCUS’ Online
University offers more than
100 courses for state examiners at no cost to state agencies. Located at www.nascusonline.org, the courses are
focused on providing familiarity with the trends and issues
facing credit unions.
Linda Jekel (WA) testifies at a
hearing of the Senate Banking,
Housing and Urban Affairs
Committee on regulatory relief.
NASCUS Accreditation provides state agencies with a model for performance excellence and serves as a guide to best practices. The value
within the credit union community is equally significant.
Credit unions in accredited states and millions of credit
union members have an extra level of confidence knowing
that their assets are under the supervision of an agency
that meets the high standards of excellence required by the
NASCUS Accreditation Program. More than 83 percent
state-chartered credit union assets are supervised by
NASCUS' 28 accredited state agencies.
Education
NASCUS provides ongoing and progressive education to
state regulators and examiners through its educational
foundation, the National Institute of State Credit Union
Examination (NISCUE).
NASCUS is committed to superior, quality training and education for state credit union examiners and the state system.
We offer on-site and online educational offerings throughout the year on operational matters, regulatory issues and
compliance. We also meet the specific training needs of
state agencies by developing
schools by member request.
George Latham (VA) shares the
state regulatory perspective at a
hearing of the House Financial
Services Subcommittee on
Financial Institutions and
Consumer Credit.
Certification
The NASCUS Certified
Examiner Program provides
professional recognition of
superior standards to state credit union regulators and
examiners and encourages further development through
required continuing education hours.
Participation in the Certification Program is open to all state
credit union examiners who take NASCUS and National
Credit Union Administration (NCUA) training and/or NASCUS
sanctioned training. Participation in the program is voluntary.
Certification is based on acquired technical skills as
evidenced by a combination of formal education, on-the-job
training, work experience and documentation from
superiors that required skills have been mastered.
There are three levels of certification: Certified State
Credit Union Examiner (CSCUE), Certified State Credit
Union Examination Supervisor (CSCUES) and Certified
Associate State Credit Union Examiner (CASCUE).