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Virginia regulator reaccredited by NASCUS
ARLINGTON, Va. (12/18/07)--The National Association of State Credit Union Supervisors (NASCUS) announced that the Virginia Bureau of Financial Institutions (BFI) recently earned NASCUS re-accreditation. The Virginia BFI supervises 55 credit unions with combined assets of about $5 billion. The agency was first accredited in 2002. NASCUS accreditation is valid for five years, subject to annual review. In addition to on-site evaluation and annual reviews, the process includes a self-evaluation of department operations in the areas of administration and finance, personnel, training, examination, supervision and legislative powers. NASCUS’ 28 accredited states supervise more than 83% of state-chartered credit union assets.
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