The National Association of State Credit Union Supervisors, NASCU, Accreditation Program was adopted in 1989 to administer and assure the quality standards of states' credit union examination and supervision. Modeled on the university accreditation concept, the program applies national standards of performance to a state's credit union regulatory program.
The accreditation process includes disciplined self-evaluation, peer review and ongoing monitoring. Administered by the NASCUS Performance Standards Committee (PSC), this process measures a state regulatory agency's ability and resources to effectively carry out its regulatory and supervisory programs.
To earn NASCUS prestigious accreditation, a state supervisory agency must demonstrate that it meets accreditation standards in these six areas:
- Department Administration & Finance
- Legislative Powers
The considerable benefits of accreditation for state agencies include creating a benchmark of standardized regulatory procedures and best practices as well as a methodology for measuring effectiveness.
Accreditation is credible evidence of an agency's capabilities. It provides recognition of the professionalism of a state agency's regulators, supervisors and staff. It may also provide the impetus and support for legislation that modifies and/or modernize state law.
Accreditation benefits state-chartered credit unions as well. Accreditation means that the state regulatory agency met the highest levels of regulatory proficiency.
ACUA has been accredited since 1998 and received a five year renewal of that accreditation in February 2014.