HARRISBURG, Pa. – Pennsylvania's Department of Banking has become the 25th state regulatory agency to be accredited by NASCUS. For the agency, the accreditation status means the NASCUS Accreditation Review Team, Accreditation Audit Working Group and the Performance Standards Committee concluded that the Pennsylvania Department of Banking exceeds all the criteria necessary to fulfill its statutory responsibility to charter, examine, supervise and regulate the credit unions chartered under the laws of Pennsylvania. For NASCUS, the achievement means NASCUS accredited state agencies now regulate over 73% of U.S. state credit union assets. As with all accredited agencies, NASCUS will evaluate the Department of Banking's accreditation every year for five years, after which the Department will undergo the full review again to retain its status. During the annual evaluations, the Department must show it has maintained the procedures and practices that earned it the accreditation in the first place.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.