ARLINGTON, Va.— The National Association of State Credit Union Supervisors (NASCUS) said it is now accepting nominations for the 2025 Pierre Jay Award, its highest honor, which recognizes exceptional service and leadership within the state credit union system. 

The award will be presented during NASCUS’s 60th Annual Meeting, the State System Summit (S3) in September in San Antonio. 

Named after Pierre Jay, the first Commissioner of Banks in Massachusetts and an early champion of credit union development in the United States, the award honors individuals, programs, and organizations whose contributions have significantly benefited the state credit union system, NASCUS said.

“Jay’s pioneering efforts, alongside those of credit union trailblazer Edward Filene, laid the foundation for the expansion of credit unions across the country,” the organization added. 

Eligibility and Criteria:

Nominees may include individuals, programs, or organizations. Candidates should demonstrate:

• Proven contributions that have significantly benefited the state credit union system
• Service, leadership, and commitment to NASCUS and/or the broader state system

Achievements that may reflect a singular contribution or a body of work over the course of a career, NASCUS added.

The deadline for nominations is July 18.   Submissions can be made by completing the Pierre Jay Award Nomination Form or by visiting NASCUS.org for more details.

Reflecting on the 2024 Honoree

Cherie Freed

NASCUS noted that at the 59th Annual State System Summit in 2024, it honored Cherie Freed with the Pierre Jay Award in recognition of her more than 37 years of service with NCUA, including eight years as Western Regional Director. Ten state supervisory agencies from the Western Region nominated Cherie for the award, acknowledging her impactful partnership with state regulators.

“Cherie Freed embodies the leadership, service, and commitment that the Pierre Jay Award was created to honor,” NASCUS President and CEO Brian Knight said when presenting her with the award. “Her remarkable career and unwavering support for state-chartered credit unions have made her a true asset to our community, and we are proud to recognize her outstanding contributions.”

A First for NASCUS

Separately, NASCUS is reporting the Public Corporation for the Supervision and Insurance of Cooperatives of Puerto Rico (COSSEC) has successfully earned National Association of State Credit Union Supervisors accreditation, the first time it has awarded accreditation to COSSEC (Corporación Pública Para la Supervisión Y Seguro De Cooperativas de Puerto Rico). 

“The NASCUS accreditation affirms the dedicated efforts we have undertaken at COSSEC to modernize our supervisory processes, enhance regulatory oversight, and protect the assets of over one million cooperative members throughout Puerto Rico,” Mabel Jiménez Miranda, executive president of COSSEC, said in a statement. “This is not only an unprecedented institutional milestone—it is a collective achievement for the Island’s entire cooperative movement. I extend my deepest appreciation to the COSSEC team whose professionalism, commitment, and hard work made this recognition possible.”

‘Rigorous Series’

According to NASCUS, the accomplishment follows a rigorous series of in-depth reviews and evaluations conducted by the NASCUS Performance Standards Committee (PSC), a panel of experienced regulators from accredited state agencies. The NASCUS Accreditation process involves a comprehensive assessment and continuous monitoring to ensure the highest standards of regulatory excellence are met and maintained.

“This peer-reviewed program underscores the exceptional work of credit union regulators in administering effective regulatory and supervisory programs,” NASCUS CEO Brian Knight said in a statement. “Achieving NASCUS Accreditation reflects an agency’s commitment to the highest standards of regulatory excellence. It not only enhances the agency’s capabilities but also strengthens the broader state credit union system.”

About Accreditation

To obtain Accreditation, a credit union state supervisory agency must demonstrate compliance with the accreditation standards in areas such as agency administration and finance, personnel and training, examination, supervision, and legislative powers.

NASCUS said it began developing the Accreditation program in 1989 to administer and ensure states’ credit union examination and supervision quality standards. This program, modeled on the university accreditation concept, applies national performance standards to a state’s credit union regulatory program, NASCUS added.