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Massachusetts Earns NASCUS Re-accreditation

ARLINGTON, Va. - The Massachusetts Division of Banks has earned its third consecutive certificate of accreditation from NASCUS. NASCUS accreditation is valid for a five-year period subject to an annual review process that enables the state accredited agency and the NASCUS Performance Standards Committee to measure progress and improvement. NASCUS-accredited...

By Staff Writer | Updated on July 18, 2006

ARLINGTON, Va. – The Massachusetts Division of Banks has earned its third consecutive certificate of accreditation from NASCUS. NASCUS accreditation is valid for a five-year period subject to an annual review process that enables the state accredited agency and the NASCUS Performance Standards Committee to measure progress and improvement. NASCUS-accredited states supervise more than 82% of state-chartered credit union assets. The Massachusetts Division of Banks supervises 101 credit unions with total assets of more than $9 billion. The Division marked its 100th anniversary in June. In addition to an on-site review, the accreditation process includes an extensive self-evaluation questionnaire on department operations in the areas of administration and finance, personnel, training, examination, supervision and legislative powers.

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