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NCUA Terminates Cease and Desist Order Against Northeast Arkansas Federal Credit Union

January 6, 2005, Alexandria, Va. – The National Credit Union Administration (NCUA) announces it has terminated a cease and desist order issued June 1, 2004, against Northeast Arkansas Federal Credit Union to correct substantial accounting problems.

Northeast Arkansas Federal Credit Union was originally chartered in 1959 to serve military and civilian employees on Blytheville Air Force Base. Today it serves over 175 select groups and an underserved area. The credit union serves approximately 13,000 members. The credit union continues operations and is serving its members. Member funds are fully insured.

NCUA enforcement orders are online at http://www.ncua.gov/administrative_orders/Index.htm, may be inspected at NCUA’s Office of General Counsel from 9 a.m. to 4 p.m. Monday through Friday, and copies may be ordered by mail from NCUA at 1775 Duke St., Alexandria, Va. 22314-3428.

The National Credit Union Administration is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 83 million account holders in all federal credit unions and the majority of state-chartered credit unions.