ALEXANDRIA, Va. (July 31, 2013) – The National Credit Union Administration announced today that it has terminated its Letter of Understanding and Agreement, dated Oct. 12, 2012, with Lynn Municipal Employees Credit Union and the Massachusetts Division of Banks.
NCUA enforcement orders are online at http://www.ncua.gov/Legal/Pages/LUA.aspx and available for inspection at NCUA’s Office of General Counsel between 9 a.m. and 4 p.m. Eastern, Monday through Friday. Copies are also available by writing to The National Credit Union Administration, 1775 Duke St., Alexandria, VA 22314-3428.
NCUA is the independent federal agency created by
the U.S. Congress to regulate, charter and supervise
federal credit unions. With the backing of the full
faith and credit of the United States, NCUA operates
and manages the National Credit Union Share
Insurance Fund, insuring the deposits of nearly 100
million account holders in all federal credit
unions and the overwhelming majority of
state-chartered credit unions. At
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.