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Utah CU regulator re-accredited by NASCUS
ARLINGTON, Va. (6/24/10)--The National Association of State Credit Union Supervisors (NASCUS) recently re-accredited the Utah Department of Financial Institutions (DFI). This is the fourth consecutive re-accreditation for Utah. It was first accredited in 1995. The Utah agency is responsible for the examination and supervision of 52 natural person credit unions with combined assets of more than $1.8 billion. NASCUS’ 28 accredited states supervise more than 85% of the nation’s state-chartered credit union assets. The accreditation is valid for five years subject to annual review. The annual review process enables the accredited agency and the NASCUS Performance Standards Committee to measure progress and improvement. To earn NASCUS accreditation, a state supervisory agency must demonstrate that it meets accreditation standards in department administration and finance, personnel, training, examination, supervision and legislative powers.
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