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News and Press Releases - 2009

News Story ​Dateline ​Summary
HeritageWest Federal Credit Union Members Now Served by Chartway Federal Credit Union ​12/31/2009
The National Credit Union Administration (NCUA) today liquidated HeritageWest Federal Credit Union of Tooele, Utah, and accepted Chartway Federal Credit Union’s offer to purchase and assume the credit union.
NCUA Intervenes in WesCorp Lawsuit ​12/30/2009
The NCUA, as Conservator of Western Corporate Federal Credit Union (“WesCorp”), today filed papers in Superior Court in Los Angeles to intervene as plaintiff in a lawsuit against several current and former employees and officials of WesCorp.
NCUA Proposes Streamlined Community Charter Rule ​12/17/2009
The National Credit Union Administration Board today approved a proposed rule to revise and the Agency’s community chartering policies and clearly define what constitutes a community charter.
Statement by NCUA Chairman Debbie Matz ​12/17/2009
One of my top priorities since returning to NCUA has been to refocus our Field of Membership rule so that there will be no more questions about what constitutes a community.
NCUA Amends 2010 Board Meeting Schedule ​12/14/2009
The 2010 National Credit Union Administration (NCUA) Board meeting schedule has been revised.
Congressional Spending Bill Responds to NCUA Priorities ​12/14/2009
Congress removed the borrowing cap on Central Liquidity Facility (CLF) borrowing for another fiscal year and increased the appropriation for the Community Development Revolving Loan Fund (CDRLF)
Fryzel Meets with Illinois Credit Unions ​12/14/2009
NCUA Board Member, Michael E. Fryzel recently met with Illinois based credit unions in Springfield, IL.
NCUA Charters East River Development Alliance FCU in New York City ​12/10/2009
The National Credit Union Administration (NCUA) Board today approved the charter for a new low-income credit union in New York City.
Matz Calls on Volunteers to Help Protect Safety and Soundness ​12/9/2009
NCUA Chairman Says Credit Union Directors Can Play Critical Roles in Risk Management, Diversification, and Succession Planning
Navy Federal Credit Union Welcomes Board Member Fryzel ​12/7/2009
NCUA Board Member, Michael E. Fryzel recently visited Navy Federal Credit Union CEO Cutler Dawson and executive credit union staff at the credit union’s headquarters in Vienna, Virginia.
Matz Calls for Consumer-Focused Capital Reform ​12/7/2009
NCUA Chairman Debbie Matz today called for changes in the credit union capital regime that would enable credit unions to promote consumer savings while maintaining rigorous safety and soundness standards.
Fryzel Visits Andrews Federal Credit Union ​12/4/2009
NCUA Board Member, Michael E. Fryzel recently met with Andrews Federal Credit Union President & CEO Chris McDonald, credit union staff, and Defense Credit Union Council President/CEO, Arty Arteaga at the credit union’s headquarters in Suitland, Maryland.
Fairfield County Ohio Federal Employees Federal Credit Union Closes 11/30/2009​ The National Credit Union Administration (NCUA) today placed Fairfield County Ohio Federal Employees Federal Credit Union of
Lancaster, Ohio, into liquidation.
Matz Sets New Round of Town Hall Sessions ​11/30/2009
National Credit Union Administration Chairman Debbie Matz today announced details of the next round of NCUA Town Hall meetings.
Credit Union Net Worth Remains Strong, Market Challenges Continue, Third Quarter Numbers Show ​11/25/2009
Credit union net worth remained above 10 percent, the return on average assets is modest at 0.28 percent, membership and lending grew despite overall stress in the economy in the third quarter but delinquencies also increased
Fryzel Visits First Trust Credit Union ​11/25/2009
NCUA Board Member, Michael E. Fryzel recently visited First Trust Credit Union in Valparaiso, Indiana.
Matz Calls for Lifting of Statutory Member Business Lending Cap ​11/24/2009
NCUA Chairman Debbie Matz urged the Department of Treasury to support increasing or eliminating the statutory cap on credit union member business lending, and allow NCUA to establish the regulatory parameters.
Temporary Corporate Credit Union Share Guarantee Program Extended ​11/23/2009
The National Credit Union Administration has extended the expiration date of NCUA’s Temporary Corporate Credit Union Share Guarantee Program (TCCUSGP) from December 31, 2011, to March 31, 2012.
Buckham Named Head of New NCUA Consumer Office ​11/20/2009
The National Credit Union Administration (NCUA) Board yesterday named Kent Buckham as Director of the newly-created Office of Consumer Protection.
NCUA Board Proposes Landmark Corporate Reforms ​11/19/2009
The National Credit Union Administration (NCUA) Board today unanimously issued a proposed rule to reform the corporate credit union system by establishing a comprehensive new framework for safety and soundness.
NCUA Board Approves 2010 Budget to Strengthen Supervision ​11/19/2009
The NCUA Board today unanimously approved a 2010 budget designed to strengthen supervision as troubled credit unions are projected to continue growing both in number and size.
NCUA Issues Prohibition Orders ​11/18/2009 The National Credit Union Administration Board has issued orders prohibiting the following individuals from participating in the affairs of any federally insured financial institution.
Matz Attends Forum on Small Business Financing ​11/18/2009
National Credit Union Administration Chairman Debbie Matz attended a forum today on Small Business Financing at the Treasury Department.
Angela Sanders Named Assistant to Chairman Matz ​11/17/2009
Angela M. Sanders has joined the National Credit Union Administration as staff assistant to Chairman Debbie Matz.
Federal Regulators Issue Final Model Privacy Notice Form ​11/17/2009 Eight federal regulatory agencies today released a final model privacy notice form that will make it easier for consumers to understand how financial institutions collect and share information about consumers.
Statement from NCUA Chairman Matz on Progress since November 5 Meeting on Corporate Credit Union Capital Depletion ​11/16/2009
“Earlier this month I convened a meeting in NCUA’s Central Office where NCUA staff and corporate credit union representatives had a substantive face-to-face discussion on the issue of capital depletion."
Matz: NCUA Strengthening Supervision in Key Risk Areas ​11/13/2009
National Credit Union Administration Chairman Debbie Matz today told over 150 members of the American Association of Credit Union Leagues (AACUL) that NCUA is strengthening supervision to help credit unions manage areas of heightened risk.
Ensign Federal Credit Union Members Now Served by EDS Credit Union ​11/13/2009
The National Credit Union Administration (NCUA) today closed Ensign Federal Credit Union of Henderson, Nevada, and authorized the purchase and assumption (P&A) of member share accounts by EDS Credit Union of Plano, Texas.
Agenda Released for Member Business Lending Webinar ​11/13/2009
National Credit Union Administration (NCUA) Board Member Gigi Hyland will host a webinar on Wednesday, November 18, 2009 entitled “Member Business Lending: Regulators’ Perspective.”
Fryzel Meets with Central Credit Union of Illinois ​11/12/2009
NCUA Board Member, Michael E. Fryzel recently met with CEO Joan Jensen, various board members, and staff members of Central Credit Union of Illinois at the credit union’s headquarters in Bellwood, Illinois.
Fryzel Participates in Credit Union Executive Society Panel ​11/9/2009
NCUA Board Member, Michael E. Fryzel recently participated in an industry leader’s panel discussing regulatory economic trends and how they will affect credit unions.
Matz Statement Following Corporate Meeting ​11/5/2009
Following today’s meeting at the NCUA between Chairman Debbie Matz, senior NCUA staff and 40 representatives from corporate credit unions, natural person credit unions and industry trade associations, Chairman Matz issued the following statement
NCUA Opens Community Development Revolving Loan Fund ​11/4/2009
The National Credit Union Administration (NCUA) opened the Community Development Revolving Loan Fund (CDRLF) program today to provide 2009 funding.
Corporate Credit Union Update ​11/2/2009
Normal operations continue without interruption at U.S. Central Federal Credit Union (U.S. Central) and Western Corporate Federal Credit Union (WesCorp).
Registration Open for Member Business Lending Webinar ​11/2/2009
National Credit Union Administration (NCUA) Board Member Gigi Hyland will host a webinar on Wednesday, November 18, 2009 entitled “Member Business Lending: Regulators’ Perspective.”
Financial Regulators Adopt Guidance on Prudent Commercial Real Estate Loan Workouts ​10/30/2009
The Federal Financial Institutions Examination Council (FFIEC) released a policy statement today supporting prudent commercial real estate (CRE) loan workouts.
Second Baptist Church Credit Union Members Now Served by Prosperity Federal Credit Union ​10/29/2009 The National Credit Union Administration (NCUA) was appointed liquidating agent of the Second Baptist Church Credit Union (Second Baptist) of Los Angeles by the California Department of Financial Institutions (DFI) on October 28, 2009.
Fryzel Visits Lake Michigan Credit Union ​10/28/2009
National Credit Union Administration (NCUA) Board Member, Michael E. Fryzel recently visited the corporate offices of Lake Michigan Credit Union in Grand Rapids, Michigan.
Hyland to Host Member Business Lending Webinar ​10/27/2009
National Credit Union Administration (NCUA) Board Member Gigi Hyland will host a webinar on Wednesday, November 18, 2009 entitled “Member Business Lending: Regulators’ Perspective.
Fryzel Meets with Department of Defense ​10/27/2009
NCUA Board Member Michael E. Fryzel recently met with Deputy Chief Financial Officer for the Department of Defense (DOD), Mark E. Easton, and President and CEO of the Defense Credit Union Council (DCUC), Arty Arteaga, at the Pentagon in Washington, D.C.
Fryzel Addresses Alliance of Credit Unions ​10/26/2009
NCUA Board Member Michael E. Fryzel, addressed the attendees of the 2009 Annual Meeting and Educational Conference of the Alliance of Credit Unions held on October 15, 2009 in Chandler, AZ.
First Delta Federal Credit Union Placed Into Conservatorship ​10/23/2009
The National Credit Union Administration (NCUA) today assumed control of operations at First Delta Federal Credit Union of Marks, Mississippi.
Over 900 Participate in Web Town Hall ​10/22/2009
NCUA today concluded over a month of two-way interactive dialogue with the credit union community by hosting more than 900 participants at a “virtual” Town Hall webinar.
Credit Unions are Eligible for New Financial Education Grants ​10/19/2009
National Credit Union Administration (NCUA) Chairman Debbie Matz today welcomed the launch of the new Financial Education and Counseling (FEC) Pilot Program
Fryzel Speaks to Arizona Credit Union League Chapter ​10/19/2009
NCUA Board Member Michael E. Fryzel spoke at the Valley of the Sun Chapter of the Arizona Credit Union League’s dinner celebrating International Credit Union Day in Phoenix, AZ.
Matz Sets Corporate Meeting; Capital, Rulemaking on Agenda ​10/16/2009 National Credit Union Administration Chairman Debbie Matz today scheduled a specially focused meeting on November 5 at 2 p.m. to discuss the status of corporate credit unions’ capital accounts and other issues related to corporate credit unions.
Virtual Town Hall Set for October 22 ​10/15/2009
National Credit Union Administration Chairman Debbie Matz will host a Town Hall Webinar Thursday, October 22 at 3 p.m.
Matz Tells Senators of NCUA’s Efforts to Protect Credit Union Members, Mitigate Risks ​10/14/2009
NCUA Chairman Debbie Matz today told the Senate Banking, Housing and Urban Affairs Subcommittee on Financial Institutions
Steve Bosack Joins Chairman Matz as Chief of Staff ​10/13/2009
Steve Bosack returns today to a second stint at NCUA, now serving as chief of staff to Chairman Debbie Matz.
Fryzel, Mayor Bloomberg Lead New York Parade ​10/8/2009
Calling it a major highlight of his career, NCUA Board Member Michael E. Fryzel marched down 5th avenue in New York City with Mayor Michael Bloomberg to lead the 72nd Annual Casmir Pulaski Day Parade last weekend.
Morton Details Strong Oversight to Minnesota Lawmakers ​10/8/2009
NCUA Region IV Director Keith Morton told a MN state Senate panel that the state’s federal and state-chartered credit unions are “strongly regulated, remain healthy, and continue to meet consumer financial needs”
2010 NCUA Board Meeting Schedule Issued ​10/7/2009 The National Credit Union Administration is issuing the 2010 monthly Board meeting schedule.
Fryzel Meets with United Nations Federal Credit Union ​10/5/2009
NCUA Board Member Michael E. Fryzel recently welcomed United Nations Federal Credit Union President Michael J. Connery and Board Chairman Alan Potter to NCUA headquarters in Alexandria, Virginia.
Credit Unions Garner CDFI Funds ​10/5/2009
National Credit Union Administration Chairman Debbie Matz today applauded credit union participation in the Community Development Financial Institutions Fund (CDFI Fund)’s supplemental funding round.
San Diego Town Hall Yields Important Discussions ​10/5/2009
In San Diego, Calif., today to voice concerns and share thoughts and ideas about impending revisions to the corporate credit union regulation at Chairman Debbie Matz’s third Town Hall meeting, designed to garner input from industry stakeholders.
Fryzel Honored at New York Event ​10/2/2009
NCUA Board Member Michael E. Fryzel was recently named Honorary Grand Marshall of the Pulaski Day Parade at the 72nd annual banquet held in honor of Polish General, Casmir Pulaski.
West Texas Credit Union Closes; Members Now Served by Security Service Federal Credit Union ​​10/1/2009
The National Credit Union Administration (NCUA) announces today that Security Service Federal Credit Union, of San Antonio, Texas, has purchased the assets and assumed the member shares of liquidated West Texas Credit Union of El Paso, Texas.
Fryzel Visits Great Lakes Credit Union ​​10/1/2009
National Credit Union Administration Board Member Michael E. Fryzel recently visited Great Lakes Credit Union in North Chicago, Illinois.
The Members’ Own Federal Credit Union Members Now Served by Alaska USA Federal Credit Union ​9/30/2009
The National Credit Union Administration (NCUA) today liquidated The Members’ Own Federal Credit Union of Victorville, California, and accepted Alaska USA Federal Credit Union’s offer to purchase and assume the credit union.
DC Area Town Hall Sparks Increased Credit Union Dialogue ​9/30/2009
National Credit Union Administration Chairman Debbie Matz today heard a wide variety of opinions and suggestions about new corporate credit union rules and other NCUA-related issues from over 160 participants at her second Town Hall Meeting.
Federal Financial Institution Regulators Announce Availability of 2008 Data on Mortgage Lending ​9/30/2009
The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 8,388 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA).
Illinois Delegation Attends NCUA Board Meeting ​9/29/2009
A delegation of Illinois credit union officials traveled to Washington to attend the September 24, 2009 meeting of the NCUA Board as well as meet with their elected officials.
Fryzel Welcomes Minnesota Credit Union Network to NCUA ​9/28/2009
National Credit Union Administration Board Member Michael E. Fryzel, encouraged continued dialogue with NCUA as he welcomed representatives from the Minnesota Credit Union Network to NCUA headquarters in Alexandria.
Matz Encourages CDFI Fund Applications ​9/25/2009
Noting the announcement of the Fiscal Year 2010 CDFI Program funding round, NCUA Chairman Debbie Matz today encouraged broader credit union participation in the program as a way to expand service to low-income consumers.
Clearstar Financial Credit Union Members Now Served by United Federal Credit Union ​9/25/2009
The NCUA today accepted appointment as liquidating agent of Clearstar Financial Credit Union, in Reno Nevada, following the Nevada Division of Financial Institution’s decision to close the credit union effective September 25, 2009.
Nance Departs US Central; Francois Henriquez Named Interim CEO ​9/25/2009
NCUA today announced that the US Central Conservatorship Advisory Board voted to replace US Central Federal Credit Union Chief Executive Officer James Nance.
Hunt Named Director of Corporate Office ​9/24/2009
The Board of the National Credit Union Administration (NCUA) today named Scott Hunt Director of the Office of Corporate Credit Unions.
Keys Federal Credit Union Placed Into Conservatorship ​9/24/2009 The National Credit Union Administration (NCUA) today assumed control of service and operations at Keys Federal Credit Union of Key West, Florida.
Fryzel Meets with Affinity Credit Union ​9/23/2009
National Credit Union Administration Board Member Michael E. Fryzel, met yesterday with representatives from Affinity Federal Credit Union at NCUA headquarters in Alexandria.
Comunidades FCU Closes, Majority of Members Now Served by Water and Power Community CU ​9/22/2009
The National Credit Union Administration (NCUA) today closed Comunidades Federal Credit Union of Los Angeles, California, and authorized the assumption of a majority of accounts by Water and Power Community Credit Union of Los Angeles, California.
Fryzel Calls for Credit Unions to Retool, Reenergize, and Rededicate at NAFCU’s Congressional Caucus ​9/22/2009
NCUA Board Member Michael E. Fryzel called on credit unions to retool, reenergize, and rededicate themselves to their core
mission, in anticipation of an improved economy, during his address at NAFCU’s Congressional Caucus in Washington, D.C
Board Member Hyland Urges NAFCU Members to Comment on Upcoming Proposed Corporate Regulation ​​9/22/2009
Board Member Gigi Hyland spoke today before the NAFCU Congressional Caucus in Washington, D.C., and strongly urged attendees to comment on the upcoming proposed corporate regulation, which she anticipates being issued before the end of the year.
NCUA Amends Board Meeting Agenda ​​9/22/2009
The NCUA Board has added an agenda item, “Revisions to Temporary Corporate Credit Union Liquidity Guarantee Program,” to the previously announced open meeting scheduled for Thursday, September 24, 2009, at 10 a.m.
NCUA Issues Prohibition Orders ​​9/22/2009
The National Credit Union Administration Board has issued orders prohibiting the following individuals from participating in the affairs of any federally insured financial institution.
Hyland Congratulates CUNA at 75th Anniversary Commemorative Ceremony ​9/21/2009
NCUA Board Member Gigi Hyland joined credit union leaders from around the country on September 16 to participate in celebrating the 75th Anniversary of CUNA on the YMCA camp grounds in Estes Park, Colo., the original site of CUNA's founding 75 years ago.
Matz Sounds Themes of Urgency and Involvement at NAFCU Caucus ​9/21/2009
First Speech as NCUA Chair Highlights Corporate Rule, Changes to Community Chartering
Federal Financial Regulatory Agencies Request Comment On Statement of Best Practices On Garnishment Orders of Exempt Federal Benefit Funds ​9/19/2009
The federal financial regulatory agencies (Agencies) today requested public comment on a statement encouraging federally regulated financial institutions to follow best practices to protect federal benefit payments from garnishment orders.
Matz Hears Variety of Suggestions, Concerns at First Town Hall ​9/16/2009
National Credit Union Administration Chairman Debbie Matz yesterday led her first Town Hall Meeting as critical issues sparked extensive discussions
Chairman Matz Statement on Corporate Capital ​9/14/2009
NCUA Chairman Deborah Matz issued the following statement today
NCUA Statement on U.S. Central Audit Release ​9/11/2009
The NCUA today welcomed the release of U.S. Central Federal Credit Union’s 2008 Audited Financial Statements as an important step forward that provides essential information about the condition of the institution and its ongoing conservatorship by NCUA.
Fryzel Welcomes FirstCorp Credit Union to NCUA Headquarters ​9/10/2009
National Credit Union Administration Board Member Michael E. Fryzel welcomed representatives from FirstCorp Credit Union to NCUA headquarters yesterday.
Hyland Addresses Questions on Proposed Changes to Corporate Rule ​9/10/2009
Speaking at First Carolina Corporate Credit Union’s Financial Conference in Charlotte, North Carolina, Board Member Gigi Hyland indicated her belief that proposed revisions to NCUA’s corporate regulation, Part 704, would be issued by year-end.​
NCUA Town Hall Meeting Agenda Hosted by Chairman Debbie Matz September 15, 2009 - Clayton, Missouri ​9/4/2009
NCUA Town Hall Meeting Agenda Hosted by Chairman Debbie Matz September 15, 2009 - Clayton, Missouri
Kaiser Lakeside Credit Union Placed into Liquidation; SafeAmerica Credit Union 8/31/2009
The National Credit Union Administration (NCUA) today was appointed liquidating agent of Kaiser Lakeside Credit Union (Kaiser Lakeside) of Oakland, California by the California Department of Financial Institutions (DFI).
Hyland Underscores Importance of Communication and Collaboration at Interagency Community Affairs 8/28/2009
Board Member Gigi Hyland spoke yesterday before a group of 150 federal agency community affairs professionals.
Fraud Alert-Update 8/28/2009
The National Credit Union Administration has obtained additional information about the situation initially described in NCUA's August 25, 2009 Fraud Alert.
Free Choice Federal Credit Union Liquidated; Members Now Served by Trumark Financial Credit Union 8/28/2009
The National Credit Union Administration (NCUA) today liquidated Free Choice Federal Credit Union (Free Choice) in Feasterville, Pennsylvania.
NCUA Chairman Matz Addresses Credit Union Concerns On Credit CARD Act Compliance ​8/28/2009
Matz responses to credit union concerns about compliance with new requirements under the Credit Card, Accountability, Responsibility, and Disclosure Act of 2009 (Credit CARD Act).
Matz Announces Town Hall Meeting Schedule ​8/28/2009
NCUA Chairman Deborah Matz today announced three NCUA Town Hall Meetings to discuss corporate credit unions and other credit union issues.
Fraud Alert ​8/25/2009
The National Credit Union Administration (NCUA) is alerting all federally insured credit unions about a fraudulent Letter to Credit Unions.
Mid Year Sees Credit Union Member, Assets and Savings Growth ​8/25/2009
Membership and member share accounts grew across the board during the first six months of 2009 as people continued to seek the financial security and services of credit unions
Deborah Matz Sworn-in as NCUA Chairman ​8/24/2009
Deborah Matz today became Chairman of the National Credit Union Administration.
Hyland Urges Continued Collaboration Between State and Federal Regulators; Discusses Key Issues ​8/20/2009
Speaking to participants at the National Association of State Credit Union Supervisors (NASCUS) State System Summit, Board Member Hyland noted, “Over the past four years, NCUA and state supervisors have built a strong, collaborative working relationship.
NCUA Regulatory Alert Addresses Impending Disclosure Deadline ​8/19/2009
The NCUA yesterday issued Regulatory Alert 09-RA-07 to all federally insured credit unions
Fryzel Encourages Continued Leadership among Defense Credit Unions ​8/19/2009
NCUA Chairman Michael E. Fryzel encouraged continued leadership by defense credit unions yesterday on a broad range of consumer issues during his remarks at the Defense Credit Union Council (DCUC)’s Annual Conference in San Francisco, CA.
Matz to Assume NCUA Chairmanship August 24 ​8/18/2009
Deborah Matz will take the oath of office and become the eighth chairman of the National Credit Union Administration Monday, August 24, 2009, at 2 p.m.
Community One FCU Closes, Members Now Served by America First FCU ​8/12/2009
The National Credit Union Administration (NCUA) yesterday closed Community One Federal Credit Union of Las Vegas, Nevada, and authorized the purchase and assumption (P&A) of its assets and shares by America First Federal Credit Union of Riverdale, Utah.
NCUA Issues Prohibition Orders ​8/11/2009
The National Credit Union Administration Board has issued orders prohibiting the following individuals from participating in the affairs of any federally insured financial institution.
Board Member Hyland Sees Opportunity Through Diversity ​8/11/2009
Board Member Gigi Hyland spoke on August 7th at the African-American Credit Union Coalition’s 11th Annual Conference and urged attendees to embrace the diversity of their memberships and strive for greater collaboration.
Fryzel Calls for Unity, Commitment at African American Credit Union Coalition Meeting ​8/10/2009
National Credit Union Administration Chairman Michael E. Fryzel praised African American Credit Unions Friday during his address at the African American Credit Union Coalition’s (AACUC) 11th Annual Conference in Las Vegas, NV.
Corporate Credit Union Update 8/7/2009
Normal operations continue without interruption at U.S. Central Federal Credit Union (U. S. Central) and Western Corporate Federal Credit Union (WesCorp).
Matz Confirmed by Senate ​8/6/2009
NCUA Board nominee Deborah Matz was confirmed today by the U.S. Senate to a seat on the NCUA three-member Board.
NCUA to Host CLF Policy and Stock Ownership Webinar ​8/6/2009
The NCUA will hold a webinar Monday, August 10, 2009 about background information about the Central Liquidity Facility’s (CLF) recent change to its investment policy and pending transfer of CLF stock ownership from U.S. Central FCU to other credit unions.
FFIEC Support for Responsible Loss Mitigation Activities ​​8/6/2009
The Federal Financial Institutions Examination Council (FFIEC) members today issued the following statement on Support for Responsible Loss Mitigation Activities.
Fryzel: Small Credit Unions Play Large Role ​​8/5/2009
NCUA Chairman Michael E. Fryzel highlighted the importance of small credit unions to the rest of the credit union industry during his address yesterday at the Illinois Credit Union Leagues Small Asset Size Conference, in Naperville IL.
Matz Confirmed by Senate ​​8/2/2009
NCUA Board nominee Deborah Matz was confirmed today by the U.S. Senate to a seat on the NCUA threemember Board. As the NCUA chairman designee, Debbie Matz she will be replacing Republican Michael E. Fryzel as chairman.
NCUA Issues Prohibition Orders ​7/31/2009
The National Credit Union Administration Board has issued orders prohibiting the following individuals from participating in the affairs of any federally insured financial institution.
NCUA Announces Central Liquidity Facility ​7/31/2009 The National Credit Union Administration (NCUA) today announces that, effective August 3, 2009, the Central Liquidity Facility (CLF) will transfer its funds from U.S. Central FCU (USC) to the U.S.
NCUA Announces Central Liquidity Facility Investment Policy Changes ​7/31/2009
The NCUA today announces that, effective August 3, 2009, the Central Liquidity Facility (CLF) will transfer its funds from U.S. Central FCU (USC) to the U.S. Treasury and invest them in a laddered portfolio of U.S. Treasury securities.
Fryzel Comments on Kanjorski-Royce Member Business Lending Legislation ​7/30/2009
National Credit Union Administration Chairman Michael E. Fryzel issued the following statement regarding the newly-introduced Kanjorski-Royce credit union member business lending bill.
Vice Chairman Hood Honored With NCUA Gold Medal ​7/29/2009
NCUA Vice Chairman Rodney E. Hood was presented with an NCUA Gold Medal today at agency headquarters in Alexandria during a farewell reception held in his honor.
Former NCUA Board Member Elizabeth Flores Burkhart Passes Away ​7/23/2009
Former National Credit Union Administration (NCUA) Vice Chairman Elizabeth Flores Burkhart, 74, died today in Winston-Salem, N.C.
Fryzel to NAFCU: Continued Involvement in Corporate Rulemaking Essential ​7/23/2009
NCUA Chairman Michael E. Fryzel urged continued involvement in the corporate rulemaking process during his address to the National Association Federal Credit Union’s 42nd Annual Conference and Exhibition yesterday at National Harbor, Maryland.
Board Member Hyland Urges Collaboration at NAFCU’s Annual Conference ​7/23/2009
Board Member Gigi Hyland spoke today at NAFCU’s 42nd Annual Conference and urged attendees to return to their cooperative roots through greater collaboration.
Remarks of the Honorable Chiristaine Gigi Hyland to the NAFCU 42nd Annual Conference and Exhibition ​7/23/2009
Last year, you may remember that I told you about an e-mail that I received that proclaimed, “The world is a mess” and then asked the recipient to agree or disagree.
New Hope Community Development Federal Credit Union Placed In Conservatorship ​7/22/2009
The NCUA today assumed control of the operations of New Hope Community Development Federal Credit Union, a federally chartered and federally insured credit union headquartered in Birmingham, Alabama.
Fryzel Emphasizes Need for Continued Member Commitment ​7/16/2009
NCUA Chairman Michael E. Fryzel emphasized the need for continued member commitment among credit unions during his address to the Michigan Credit Union League at their Annual Convention and Exposition last week in Traverse City, MI.
Chairman Fryzel Visits TECH Credit Union ​7/14/2009
National Credit Union Administration (NCUA) Chairman Michael E. Fryzel last week toured TECH Credit Union in Crown Point, Indiana.
NCUA Amends Open Board Meeting Agenda ​7/14/2009
The NCUA Board has added an agenda item, “Revisions to Temporary Corporate Credit Union Liquidity Guarantee Program,” to the open meeting scheduled for Thursday, July 16, 2009, at 10 a.m.
The Detection and Deterrence of Mortgage Fraud Against Financial Institutions ​7/13/2009
This White Paper is intended to raise the awareness of and assist examiners in identifying various mortgage fraud schemes perpetrated against financial institutions. The White Paper also provides best practices for deterring such schemes.
Watts United Credit Union Closes ​7/6/2009
The NCUA accepted appointment as the liquidating agent of Watts United Credit Union of Los Angeles, California, to place the credit union into liquidation on Monday, July 6, 2009.
CNrCeUdAit Working with Other Regulators on CARD Act and UDAP Rule ​7/1/2009
While an interagency rule on unfair and deceptive acts and practices in connection with credit cards (the UDAP rule) is scheduled to become effective a year from today (July 1, 2010)
Agencies Publish Final Rules and Guidelines to Promote Accurate Reports About Consumers ​7/1/2009
The federal financial regulatory agencies and the Federal Trade Commission today published final rules and guidelines to promote the accuracy and integrity of information furnished to credit bureaus and other consumer reporting agencies
FFIEC Issues Statement on Regulatory Conversions ​​7/1/2009
The Federal Financial Institutions Examination Council (FFIEC) today issued the Statement on Regulatory Conversions to reaffirm that the supervisors are unified in their approach to regulatory conversions.
Register Now For Tomorrow’s Corporate Stabilization Webinar ​6/23/2009
The NCUA encourages credit unions to participate in tomorrow’s, June 24th webinar designed to provide details of Board actions taken in June
Corporate Stabilization Webinar Scheduled for June 24 ​6/18/2009
The NCUA will host a webcast Wednesday, June 24, 2009, to provide the credit union community with details of actions taken at the June 18th Board meeting related to corporate stabilization
High Desert FCU Members Will Be Served by Alaska USA FCU ​6/18/2009
The NCUA today accepted Alaska USA Federal Credit Union’s offer to purchase certain assets and assume the shares and certain liabilities of High Desert Federal Credit Union (High Desert) of Apple Valley, California.
Federal Agencies Propose Rule to Implement ​6/1/2009
Proposal for public comment proposed rules requiring mortgage loan originators who are employees of Agency-regulated institutions to meet the registration requirements of the S.A.F.E. Mortgage Licensing Act of 2008 (S.A.F.E. Act).
Last Chance to Register for the 75th Anniversary Symposium ​6/1/2009
Registration for the 75th Anniversary Symposium will close on Wednesday June 3 at 4:00 PM. A select number of registration spots have been left open for registration by the deadline.
$250,000 Share Insurance Protection Extended to 2013 ​5/26/2009
The Helping Families Save Their Homes Act of 2009, signed into law May 20, 2009, includes a provision extending $250,000 share insurance coverage provided by the National Credit Union Share Insurance Fund through December 31, 2013.
NCUA to Launch Updated, Reorganized Website ​5/18/2009
That NCUA is debuting an enhanced, modernized website May 20, 2009, that will provide users with easier access to data and information.
NCUA Revises Closed May Board Meeting Agenda ​5/18/2009
The National Credit Union Administration (NCUA) has revised the May 21, 2009, Board meeting agenda.
Rouge Employees Credit Union Members Now Served by Chief Financial Federal Credit Union ​5/15/2009
The NCUA was appointed liquidating agent of Rouge Employees Credit Union in Dearborn by the Michigan Office of Financial & Insurance Regulation on May 15, 2009.
Fryzel Statement on Kanjorski Credit Union ​5/13/2009
This initiative by Chairman Kanjorski, Chairman Gutierrez, Congressman Royce, Congressman Scott and Congressman LaTourette moves the NCUA and the credit union industry another step closer to creating a real and pragmatic solution...
Eastern Financial Florida Credit Union Placed In Conservatorship ​4/24/2009
The NCUA today assumed control of the operations of Eastern Financial Florida Credit Union, a state-chartered, federally insured credit union headquartered in Miramar, Florida.
Agencies Propose Clarifications to Credit Card Rules ​4/21/2009
The Federal Reserve Board, the Office of Thrift Supervision, and the National Credit Union Administration today proposed clarifications to aspects of their December 2008 final rules under the FTC Act prohibiting certain unfair credit card practices
NCUA Revises April Board Meeting Agenda ​4/17/2009
The National Credit Union Administration (NCUA) has revised the April 21, 2009, Board meeting agenda.
Agenda Announced For 75th Anniversary Symposium ​4/15/2009
National Credit Union Administration (NCUA) Board Member Gigi Hyland announced the agenda for the Symposium marking the 75th Anniversary of the Federal Credit Union Act.
Fryzel Visits Student Credit Union ​3/30/2009
National Credit Union Administration Chairman, Michael E. Fryzel last week highlighted the importance of an early start on financial education during a tour of a Virginia high school student-run branch
NCUA Activates Disaster Assistance in Response to Midwest Flooding ​3/30/2009
The NCUA has activated its disaster relief policy to assist credit unions and their members affected by the severe weather and flooding in North Dakota and Minnesota.
NCUA Unveils Share Insurance TV Ad Campaign ​3/25/2009
The NCUA is partnering with nationally respected finance expert Jane Bryant Quinn to promote NCUSIF coverage and remind consumers that federally insured credit unions are a safe place to keep your money at a time of market turmoil.
NCUA Releases FAQs on PIMCO Credit Analysis and Recent Conservatorship Actions ​3/23/2009
The NCUA today is releasing FAQs regarding the Pacific Investment Management Company LLC (PIMCO) analysis of corporate credit union residential mortgage backed securities (RMBS) and NCUA’s conservatorship of U.S. Central and Western Corporate FCUs.
Credit Union Investment Program Successful ​3/23/2009
The National Credit Union Administration reports that due to the success of the three succeeding Credit Union System Investment Program (CU SIP) programs there will not be an April CU SIP offering.
NCUA Schedules Closed Board Meeting on 03/26/2009 ​3/23/2009
The National Credit Union Administration (NCUA) Board has scheduled a special closed meeting for Thursday, March 26, 2009.
NCUA Webcast Will Provide Corporate Stabilization Update ​3/20/2009
The National Credit Union Administration will host a webcast Monday, March 23, 2009, to provide the credit union community with an update on the corporate credit union stabilization program.
NCUA Conserves U.S. Central and Western Corporate Credit Unions ​3/20/2009
The NCUA Board today placed U.S. Central Federal Credit Union, Lenexa, Kansas, and WesCorp Federal Credit Union, San Dimas, California, into conservatorship to stabilize the corporate credit union system and resolve balance sheet issues.
Albin Testifies on Credit Card and Overdraft Protection ​3/19/2009
National Credit Union Administration Associate General Counsel Sheila Albin testified today before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit addressing legislation designed to aid consumers
Marquis Testifies on Insurance Fund Issues ​3/19/2009
National Credit Union Administration Executive Director David M. Marquis testified today before the Senate Banking, Housing, and Urban Affairs Committee on deposit insurance issues
Former NCUA Chairman Edgar F. Callahan Passes Away ​3/18/2009
The National Credit Union Administration is scheduled to testify before three House and Senate Committees tomorrow, March 19, 2009, on Capitol Hill.
NCUA To Testify Tomorrow At Three Hearings ​3/18/2009
The National Credit Union Administration is scheduled to testify before three House and Senate Committees tomorrow, March 19, 2009, on Capitol Hill.
NCUA Provides Informational Letter for Credit Union Members ​3/16/2009
The National Credit Union Administration is providing the attached letter explaining details of recent actions taken to stabilize the corporate credit union system.
Credit Unions Oversubscribe the March CU SIP Offering ​3/6/2009
The NCUA is pleased to report that the Credit Union System Investment Program (CU SIP) has been extremely successful in the initial corporate stabilization phase due to the high level of support from natural person credit unions.
Federal Financial Regulatory Agencies Issue Statement In Support of the “Making Home Affordable” Loan Modification Program ​3/4/2009
The federal bank, thrift, and credit union regulatory agencies encourage all federally regulated financial institutions that service or hold residential mortgage loans to participate in the “Making Home Affordable” loan modification program.
Voluntary Corporate Guarantee Program Participants Announced ​3/2/2009
The National Credit Union Administration’s Voluntary Temporary Corporate Credit Union Share Program (TCCUSGP) began March 1, 2009.
NCUA Provides Examiner Guidance Recognizing Corporate Impact, CU SIP 2/27/2009
The National Credit Union Administration issued new supervisory guidance for agency examination staff regarding the impact the Corporate Stabilization Program may have on credit union balance sheets.
Membership, Assets, Loans and Savings Grew in 2008 as Net Income Declined ​2/23/2009
According to call reports submitted by the nation’s 7,806 FICU, all savings categories and the majority of loan categories showed positive growth in 2008, while the return on average assets declined as loan loss reserves were increased.
CLF Advances Reach Nearly $8 Billion in NCUA Initiative ​2/13/2009
The NCUA today provided an additional $2.9 billion to credit unions participating in the Credit Union System Investment Program (CU SIP), an NCUA Central Liquidity Facility (CLF) initiative designed to add liquidity to the credit union system.
Center Valley Federal Credit Union Closes ​2/13/2009
The National Credit Union Administration (NCUA) placed Center Valley Federal Credit Union of Wheeling, West Virginia, into liquidation Friday, February 13, 2009.
Vice Chairman Hood Discusses the Corporate Stabilization Program with Credit Union Members in Louisiana and Texas ​2/13/2009
NCUA Vice Chairman Hood addressed the Louisiana Credit Union League’s Large Asset Roundtable in Baton Rouge, LA on Wednesday, February 11th; followed by the TX Credit Union League’s Small Credit Union Meeting in Houston, TX on Thursday, February 12th.
Sign-up for the Credit Card Rule Conference Call ​2/12/2009
The NCUA, Office of Thrift Supervision (OTS), and Federal Reserve Board encourage CUs, banks and thrifts to participate in a free audio briefing
NCUA Webcast Provides Answers on Corporate Stabilization ​2/12/2009
NCUA webcast providing the credit union community with details of the stabilization program, which is designed to maintain stability and liquidity within the corporate credit union system.
Upcoming Webcast Will Provide Corporate Stabilization Update ​2/10/2009
The National Credit Union Administration will host a webcast this Thursday to provide the credit union community with an update on the corporate credit union stabilization program.
NCUA Amends Special Board Meeting Agenda ​2/6/2009
The National Credit Union Administration (NCUA) Board has added an agenda item to the special closed meeting scheduled for Tuesday, February 10, 2009, at 10 a.m.
NCUA Schedules Closed Board Meeting ​2/5/2009
The National Credit Union Administration (NCUA) Board has scheduled a special closed meeting for Tuesday, February 10, 2009, at 10 a.m.
Board Approves Corporate Stabilization Efforts ​1/28/2009
The NCUA Board today approved a series of actions designed to enhance and support a corporate credit union system facing unprecedented strains on liquidity and capital due to extraordinary market disruptions and the current economic climate.
NCUA Schedules Closed Board Meeting ​1/27/2009
The National Credit Union Administration (NCUA) Board has scheduled a special closed meeting for January 28, 2009, at 3 p.m.
NCUA Charters 1st Bergen FCU in New Jersey ​1/16/2009
The National Credit Union Administration (NCUA) has approved a charter for 1st Bergen Federal Credit Union located in Hackensack, New Jersey.
Financial Regulators Release Guidance on Risk Management of Remote Deposit Capture ​1/15/2009
The FFIEC issued guidance today for examiners, financial institutions, and technology service providers to identify risks, evaluate controls, and assess risk management practices related to remote deposit capture (RDC) systems.
NCUA Reassigns Alaska and Nevada Supervision ​1/6/2009
The NCUA has reassigned the supervision and examination of Alaska and Nevada credit unions in order to reallocate resources to better meet NCUA supervision objectives and adjust for workload imbalances.
NCUA Schedules Closed Board Meeting ​1/5/2009
The National Credit Union Administration (NCUA) Board has scheduled a special closed meeting for January 8, 2009, at 10 a.m.
Over $5 Billion in CLF Advances Funded through New NCUA Initiatives ​1/2/2009
National Credit Union Administration today provided participation numbers for the Credit Union Homeowners Affordability Relief Program (CU HARP) and the Credit Union System Investment Program (CU SIP).
Valley Credit Union Put into Receivership; Citizens Equity First Credit Union Purchases and Assumes Assets ​1/2/2009
The National Credit Union Administration (NCUA) today was appointed receiver of Valley Credit Union (Valley) of San Jose, California by the California Department of Financial Institutions (DFI).
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