CREDIT UNION DIVISION

The North Carolina Credit Union Division is a regulatory agency which was created in 1915. The Division is operated under the supervision of the Administrator of Credit Unions. The Division is part of the Department of Commerce. The Division receives no general fund or tax revenues, but is funded exclusively from fees paid by the regulated credit unions. The Administrator is an active member of the National Association of State Credit Union Supervisors (NASCUS). The Division received its accreditation from NASCUS in 1992 and continues to maintain this status which designates a high standard of excellence in the regulation and supervision of credit unions.

The Division is composed of the Administrator, Assistant Administrator, Deputy Administrator, Examination Manager, Examiners, Administrative Officer and staff.

It is the Division’s mission to promote and assist in the formation of credit unions and to ensure the safety and soundness of the credit unions and their compliance with applicable laws through yearly examinations and other means.