IDFPR Secretary Schneider Appointed To NASCUS Board

CHICAGO – Illinois Department of Financial and Professional Regulation (IDFPR) Secretary Bryan A. Schneider was recently appointed to a one-year term on the National Association of State Credit Union Supervisors (“NASCUS”) Board of Directors. NASCUS, based in Arlington, VA, is the primary resource and voice of the state governmental agencies that charter, regulate and examine the nation’s state-chartered credit unions. NASCUS membership is made up of state-chartered credit unions, state regulators and other supporters of the state credit union system. Schneider joins the eight-member board immediately.

Illinois ranks first in the nation with 212 state-chartered credit unions. With $35 billion in total assets, Illinois credit unions rank seventh in the United States. Illinois is just one of nine states that allow private insurance for credit unions.

“As the principal regulator in Illinois, Secretary Schneider oversees the largest consortium of credit unions in the nation,” said Governor Bruce Rauner. “His extensive regulatory and financial background will provide valuable insight and guidance as a member of the NASCUS Board of Directors.”

The other seven members of the NASCUS Board are elected to three-year terms each. Earlier this year, two regulators were elected to positions on the board: Janet Powell, manager, credit union program for the Oregon Department of Consumer and Business Services, was elected to a term that ends in 2019. Steve Pleger, senior deputy commissioner for the Georgia Department of Banking & Finance, was re-elected to the NASCUS Board, also to a term ending in 2019.

Chairman of the NASCUS Board is Mary Ellen O’Neill, director, Financial Institution Division, Connecticut Department of Banking. Other officers and members are: Vice Chairman -- Jay Bienvenu, senior deputy commissioner, Massachusetts Division of Banks; Secretary/Treasurer -- John Kolhoff, director, Office of Credit Unions, Michigan Department of Insurance and Financial Services; Directors -- Rose Conner, administrator, North Carolina Credit Union Division, and; Kim Santos, director, Office of Credit Unions, Wisconsin Department of Financial Institutions.