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Florida CU regulator reaccredited by NASCUS
ARLINGTON, Va. (12/1/09)--The state regulator for Florida's credit unions has been reaccredited by the National Association of State Credit Union Supervisors (NASCUS). The Florida Office of Financial Regulation (OFR) Bureau of Credit Union Regulation is responsible for the regulation and examination of 79 state-chartered credit unions with about $19.5 billion in total assets. Florida was first accredited in 2004. The accreditation "is yet another indication that we are properly safeguarding deposits in Florida's state-chartered financial institutions,” said OFR Commissioner Tom Cardwell. “These are rigorous national standards and I am extremely proud of the OFR Financial Institutions Team.” NASCUS 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. NASCUS’ 28 accredited states supervise more than 85% of the nation’s state-chartered credit union assets.
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