ARLINGTON, Va. (4/10/14)--The National Association of State Credit Union Supervisors (NASCUS) recently approved the reaccreditation of the California Department of Business Oversight (DBO).
The DBO, which is led by Commissioner Jan Lynn Owen and Deputy Commissioner of Credit Unions Erick Orellana, supervises 146 credit unions with combined assets of roughly $79.3 billion. The DBO was formed on July 1, 2013, through the consolidation of the former Department of Financial Institutions and the former Department of Corporations.
NASCUS accreditation is valid for five years, subject to annual review. The annual review process allows the accredited agency and the NASCUS Performance Standards Committee to measure progress and improvement.
To earn accreditation, an agency's qualifications are evaluated by an accreditation review team, which examines the agency's accreditation application and supporting documents, and conducts an on-site review of agency programs and performance. The California department was first accredited by NASCUS in 1999.