OHIO DIVISION OF FINANCIAL INSTITUTIONS RECEIVES NATIONAL ASSOCIATION OF
STATE CREDIT UNION SUPERVISORS ACCREDITATION

 

The Ohio Department of Commerce’s Division of Financial Institutions has received the accreditation of the National Association of State Credit Union Supervisors (NASCUS).    

The Division of Financial Institutions regulates Ohio’s 271 state-chartered credit unions to ensure the safety and the soundness of the institutions.  NASCUS is accrediting the division’s credit union regulatory operations from 2001 – 2006.

A formal presentation will be held on Wednesday, August 1^st at the Division’s offices at 77 South High Street, 21^st Floor, Columbus, during the Credit Union Council meeting.  Doug Duerr, President and Chief Executive Officer, and Mary Martha Fortney, Vice President of Government Relations and Accreditation, will present the accreditation certificate to F. Scott O’Donnell, Superintendent of Financial Institutions, and Ken Roberts, Deputy Superintendent for Credit Unions. 

NASCUS accredited the division after it completed a comprehensive review of its standards and practices in credit union supervision.  NASCUS evaluated the division’s administration and finances, personnel policies and practices, training programs, examination policies and practices, supervisory procedures, and statutory powers. 

“The Division of Financial Institutions is pleased to receive the accreditation of the National Association of State Credit Union Supervisors,” Superintendent O’Donnell said.  “This accomplishment is due to our credit union examination staff which provides the highest quality of credit union supervision.  The division is committed to maintaining the highest standards as we work to ensure the safety and soundness of our state-chartered credit unions.”

In addition to Ohio, 25 other state credit union regulators are accredited through NASCUS. 

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The Ohio Department of Commerce’s Division of Financial Institutions regulates Ohio’s state-chartered banks, savings and loans/savings banks, and credit unions.  The Division also regulates consumer finance companies.  In addition, the Department of Commerce regulates securities, industrial compliance, fire codes, unclaimed funds, liquor, and real estate, among other industries.   The department's internet address is www.com.state.oh.us