ARLINGTON, Va. -- Reaccreditation for five years has been earned by the Wisconsin Office of Credit Unions from NASCUS – the fourth accreditation for the state credit union regulator since 2001.
“Reaccreditation is a significant achievement, representing the effectiveness and sound supervision of the state credit union regulatory system,” said NASCUS President and CEO Lucy Ito. “Congratulations to Director Kim Santos and the OCU, and the 143 state chartered credit unions in the state, which hold just more than $31 billion in assets.”
NASCUS accreditation is valid for a five-year period subject to annual review. The annual review process enables the accredited agency and the NASCUS Performance Standards Committee (PSC) to measure progress and improvement.
To earn accreditation, an agency’s qualifications are evaluated by an Accreditation Review Team (ART), which completes a thorough examination of the agency’s accreditation application and supporting documents, followed by three days of intense on-site scrutiny of agency programs and performance.
The Wisconsin Office of Credit Unions (OCU) is an independent unit attached to the Wisconsin Department of Financial Institutions (DFI) for administrative support. The examination functions of OCU is divided into two regions: Region I (Milwaukee and Fox Valley) and Region II (Madison and Wausau).