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Washington DFI CU Division Re-Accredited By NASCUS

ARLINGTON, Va. - The Washington Department of Financial Institutions, Division of Credit Unions, has earned five-year re-accreditation by NASCUS. The state's Division of Credit Unions regulates 85 state-chartered credit unions, with total assets of more than $16 billion. To earn NASCUS accreditation, an agency must meet or exceed a score...

By Staff Writer | Updated on July 13, 2004

ARLINGTON, Va. – The Washington Department of Financial Institutions, Division of Credit Unions, has earned five-year re-accreditation by NASCUS. The state’s Division of Credit Unions regulates 85 state-chartered credit unions, with total assets of more than $16 billion. To earn NASCUS accreditation, an agency must meet or exceed a score of 75% in each of six areas: Department Administration and Finance; Personnel; Training; Examination; Supervision; and Legislation. The qualifications and review team findings are audited by an Accreditation Audit Working Group and the NASCUS Performance Standards Committee which makes the final recommendation for approval to the NASCUS Board. Accreditation is valid for a five-year period and is reviewed annually. NASCUS accredited states supervise nearly 80% of all state-chartered credit union assets.

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