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May 14, 2025
Media Contact: DIFS-press@michigan.gov
Consumer Hotline: 877-999-6442, Michigan.gov/DIFScomplaints
FOR IMMEDIATE RELEASE: May 14, 2025
(LANSING, MICH) The Michigan Department of Insurance and Financial Services’ (DIFS) Office of Credit Unions (OCU) was awarded reaccreditation from the National Association of State Credit Union Supervisors (NASCUS) for its outstanding and professional supervision of state-chartered credit unions.
“This reaccreditation demonstrates our department's reliable supervisory programs and commitment to the rigorous standards set by NASCUS,” said Director Anita Fox. “We appreciate the support and partnership that NASCUS provided throughout the reaccreditation process, which is essential for the state-based regulation of credit unions.”
NASCUS accredits organizations through a rigorous series of in-depth reviews and evaluations conducted by the NASCUS Performance Standards Committee (PSC), which includes veteran regulators from accredited state agencies. Accreditation also involves a comprehensive assessment and continuous monitoring to ensure the highest standards of regulatory excellence are met and maintained. To meet accreditation standards, OCU demonstrated compliance in agency administration and finance, personnel and training, examination, supervision, and legislative powers.
NASCUS started its accreditation program in 1989, and Michigan was the first state to receive accreditation in the same year.
All of DIFS’ financial regulatory programs have earned accreditation recognizing the department's commitment to consumer protection and robust oversight.
In 2024, the Conference of State Bank Supervisors granted reaccreditation to DIFS’ Banking regulatory program and first-time accreditation for both its Mortgage and Money Transmission Services regulatory programs.
In 2021 the National Association of Insurance Commissioners (NAIC) renewed DIFS’ accreditation of its regulation of insurers' corporate and financial affairs for another 5 years. DIFS has been continuously accredited by the NAIC since 1995.
The mission of the Michigan Department of Insurance and Financial Services is to ensure access to safe and secure insurance and financial services fundamental for the opportunity, security, and success of Michigan residents, while fostering economic growth and sustainability in both industries. In addition, the Department provides consumer protection, outreach, and financial literacy and education services to Michigan residents. For more information, visit Michigan.gov/DIFS or follow the Department on Facebook, X, or LinkedIn.
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