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updated 9/3/2010 5:42PM

NCUA recent news

Thu, 02 Sep 2010 8:00:00 -0400
September 3 Closed NCUA Board Meeting Rescheduled to 9:30 a.m.


Wed, 01 Sep 2010 15:30:00 -0400
First American Credit Union Closes
September 1, 2010, Alexandria, Va. -- The National Credit Union Administration (NCUA) was appointed liquidating agent of First American Credit Union of Beloit, Wisconsin by the Wisconsin Office of Credit Unions on August 31, 2010.

Tue, 31 Aug 2010 18:30:00 -0400
NCUA Files Amended Complaint for Losses at WesCorp
August 31, 2010, Alexandria, Va. – The National Credit Union Administration (“NCUA”) Board, in its role as Conservator of Western Corporate Federal Credit Union (“WesCorp”), today filed an amended complaint with the U.S. District Court for the Central District of California in a pending lawsuit as a result of losses at the conserved corporate credit union.

Tue, 31 Aug 2010 08:00:00 -0400
Temporary Corporate Credit Union Share Guarantee Program Extended
August 31, 2010, Alexandria, Va. – The National Credit Union Administration has extended the expiration date of NCUA’s Temporary Corporate Credit Union Share Guarantee Program (TCCUSGP) from September 30, 2012, to December 31, 2012.

Mon, 30 Aug 2010 12:00:00 -0400
Net Worth Holds Steady
August 30, 2010, Alexandria, Va. – Credit unions continue to welcome new members, while helping many existing members overcome financial stress, according to second-quarter Call Reports from America?s 7,445 federally insured credit unions.

Fri, 27 Aug 2010 15:00:00 -0400
NCUA Schedules Closed Board Meeting
August 27, 2010, Alexandria, Va. - The National Credit Union Administration (NCUA) Board today scheduled a closed Board meeting for Friday, September 3 at 11:30 a.m.

Thu, 26 Aug 2010 16:00:00 -0400
NCUA Charters Shepherd’s FCU in Charlotte, North Carolina
August 26, 2010, Alexandria, Va. – The National Credit Union Administration (NCUA) today approved the charter for Shepherd’s Federal Credit Union, located in Charlotte, N.C.

Tue, 24 Aug 2010 12:20:00 -0400
Board Member Fryzel Addresses Defense Credit Union Council at Annual Conference
August 24, 2010, Alexandria Va. – National Credit Union Administration Board Member Michael E. Fryzel addressed an audience of nearly 200 at the Defense Credit Union Council’s 47th Annual Conference and Showcase today in Minneapolis, Minn.

Fri, 20 Aug 2010 15:45:00 -0400
Board Member Fryzel Meets with Uzbekistan Delegates
August 20, 2010, Alexandria Va. – National Credit Union Administration Board Member Michael E. Fryzel met today with delegates from Uzbekistan at the Illinois Credit Union League’s office in Naperville, Ill.

Wed, 18 Aug 2010 11:00:00 -0400
Matz Schedules Oregon Town Hall Meeting for October 5, 2010: 1:00-4:00 PM Pacific Time
August 18, 2010, Alexandria, Va. – NCUA Chairman Debbie Matz will host a Town Hall in Portland, Oregon, October 5, 2010, in an effort to foster two-way communication and discuss developments affecting both natural person and corporate credit unions.

Mon, 16 Aug 2010 11:45:00 -0400
Financial Regulators Adopt Guidance on Reverse Mortgage Products
August 16, 2010, The Federal Financial Institutions Examination Council (FFIEC) released guidance today on reverse mortgage products.

Thu, 12 Aug 2010 14:00:00 -0400
Enhancing Transparency, NCUA Posts Initial Board Meeting Video
August 12, 2010, Alexandria, Va. – The National Credit Union Administration (NCUA) today posted an online video of the open NCUA Board meeting conducted on July 29, 2010.

Fri, 06 Aug 2010 17:30:00 -0400
Ulan Named Associate General Counsel, Director of Operations
August 6, 2010, Alexandria, Va. –– The National Credit Union Administration (NCUA) has named Hattie M. Ulan Associate General Counsel, Director of Operations within the Office of General Counsel (OGC).

Thu, 05 Aug 2010 15:30:00 -0400
Hyland Underscores Ongoing Challenges for Directors
Alexandria, VA, August 5, 2010 – Speaking yesterday before 1,100 attendees at the 33rd Annual National Directors’ Convention, National Credit Union Administration Board Member Gigi Hyland highlighted the critical role of credit union directors.

Wed, 04 Aug 2010 15:40:00 -0400
Fryzel Visits Allegius Federal Credit Union
August 4, 2010, Alexandria Va. – National Credit Union Administration Board Member Michael E. Fryzel recently met with Allegius Federal Credit Union (FCU) CEO Russell Dahl, Board Chairman Bruce Aubry, other Board Members and key staff, and Indiana Credit Union League President John McKenzie for a discussion of credit union issues and a tour of Allegius FCU in Burns Harbor, Indiana.

Wed, 04 Aug 2010 11:30:00 -0400
NCUA Issues Letter of Understanding and Agreement
August 4, 2010, Alexandria, Va., -- The National Credit Union Administration (NCUA) has published a Letter of Understanding and Agreement (LUA) entered into with the officials of Veritas Federal Credit Union, Franklin, Tennessee.

Tue, 03 Aug 2010 16:30:00 -0400
NCUA Posts Overdraft Fee Notice for Credit Unions to Inform Members
August 3, 2010, Alexandria, Va. – The National Credit Union Administration has posted the Federal Reserve Board’s sample notice – What You Need to Know about Overdrafts and Overdraft Fees – for credit unions to send to members in time to meet notification requirements under the Fed’s revised Regulation E.

Tue, 03 Aug 2010 15:00:00 -0400
Kappa Alpha Psi Federal Credit Union Placed into Liquidation
August 3, 2010, Alexandria, Va. - The National Credit Union Administration (NCUA) today placed Kappa Alpha Psi Federal Credit Union, located in Addison, Texas, into liquidation.

Mon, 02 Aug 2010 11:30:00 -0400
Certified Federal Credit Union Closes; Members Now Served by Vons Employees Federal Credit Union
August 2, 2010, Alexandria, Va. -- The National Credit Union Administration (NCUA) liquidated Certified Federal Credit Union (Certified) of Commerce, California, July 31, 2010.

Fri, 30 Jul 2010 19:00:00 -0400
Family First Federal Credit Union Placed Into Conservatorship
July 30, 2010 Alexandria, Va. – The National Credit Union Administration (NCUA) today assumed control of operations at Family First Federal Credit Union of Orem, Utah. NCUA’s goal is to continue credit union service to the members and ensure safe and sound credit union operations.

Fri, 30 Jul 2010 14:00:00 -0400
NCUA Schedules Special Board Meeting
July 30, 2010, Alexandria, Va. -- The National Credit Union Administration (NCUA) Board has scheduled a special closed Board meeting for Tuesday, August 3, 2010, at 8:30 a.m.

Fri, 30 Jul 2010 10:50:00 -0400
NCUA Announces $2 Million in Budget Cuts
July 30, 2010, Alexandria, Va. –After a mid-year review found that operations of the National Credit Union Administration have been running 8 percent below their original budget during the first half of 2010, NCUA Chairman Debbie Matz has announced that the agency’s budget for this year has been reduced by $2 million.

Thu, 29 Jul 2010 17:25:00 -0400
Norbel Credit Union Members Now Served by Security Service Federal Credit Union
July 29, 2010 Alexandria, Virginia - The National Credit Union Administration (NCUA) today was appointed liquidating agent of Norbel Credit Union of Fort Collins, Colorado, by the Colorado Division of Financial Services (DFS); and Security Service Federal Credit Union of San Antonio, Texas, immediately purchased and assumed Norbel’s assets, liabilities and members.

Thu, 29 Jul 2010 17:15:00 -0400
Results of the 07/29/2010 NCUA Board Meeting are available
July 29, 2010 Alexandria, Virginia - The National Credit Union Administration (NCUA) today was appointed liquidating agent of Norbel Credit Union of Fort Collins, Colorado, by the Colorado Division of Financial Services (DFS); and Security Service Federal Credit Union of San Antonio, Texas, immediately purchased and assumed Norbel’s assets, liabilities and members.

Thu, 29 Jul 2010 17:00:00 -0400
Matz Joins Geithner, Other Regulators, to Lay Consumer Bureau Groundwork
July 29, 2010, Alexandria, Va. -- NCUA Chairman Debbie Matz today joined Treasury Secretary Timothy Geithner and other federal financial regulators for the initial meeting of an inter-agency working group designed to transfer personnel and functions to the newly-created Consumer Financial Protection Bureau.

Thu, 29 Jul 2010 09:00:00 -0400
Draft Items for the 07/29/2010 NCUA Board Meeting are available
July 29, 2010, Alexandria, Va. -- NCUA Chairman Debbie Matz today joined Treasury Secretary Timothy Geithner and other federal financial regulators for the initial meeting of an inter-agency working group designed to transfer personnel and functions to the newly-created Consumer Financial Protection Bureau.

Wed, 28 Jul 2010 12:00:00 -0400
Federal Agencies Issue Final Rules to Implement S.A.F.E. Act Requirements
Alexandria, Va., July 28, 2010 – Federal agencies issue final rules to implement S.A.F.E. Act requirements for registration of mortgage loan originators.

Wed, 28 Jul 2010 10:30:00 -0400
Third NCUA Corporate DVD Now Available Online
July 28, 2010, Alexandria, Va. – The National Credit Union Administration (NCUA) today posted online the third installment of explanatory tracks to help credit unions better understand the history and prevailing situation involving the nation’s corporate credit union system.

Tue, 27 Jul 2010 15:30:00 -0400
Worth Joins NCUA as Chief Economist
Alexandria, Va., July 27, 2010 – The National Credit Union Administration has selected John D. Worth as Director, Office of the Chief Economist effective July 26, 2010.

Mon, 26 Jul 2010 18:05:00 -0400
Board Member Hyland Challenges NAFCU Attendees
Alexandria, Va., July 26, 2010 – National Credit Union Administration Board Member Gigi Hyland challenged credit unions to take advantage of the many opportunities before them in facing the current economic crisis on July 23, 2010, when addressing attendees at the 43rd Annual Conference and Exhibition of the National Association of Federal Credit Unions.

Mon, 26 Jul 2010 16:00:00 -0400
Corporate Stabilization Fund Receives Unqualified Audit Opinion for 2009
July 26, 2010, Alexandria, Va. –The National Credit Union Administration today released the 2009 financial report for the Temporary Corporate Credit Union Stabilization Fund (TCCUSF).

Fri, 23 Jul 2010 15:00:00 -0400
Agenda for the 07/30/2010 NCUA Board Meeting is available-note time has been moved to 9:00a.m.


Fri, 23 Jul 2010 11:00:00 -0400
Fryzel Invokes "We Will Spirit" at NAFCU Conference
July 23, 2010, Alexandria Va. – National Credit Union Administration Board Member Michael E. Fryzel, called upon the 1,800 delegates at the 43rd Annual Conference and Exhibition of the National Association of Federal Credit Unions, in Chicago Illinois, to invoke the “we will spirit” of the city of Chicago as the nation continues its economic struggles.

Thu, 22 Jul 2010 18:25:00 -0400
Arrowhead Second Quarter Financial Results Posted; Misstatements Corrected
July 22, 2010. Alexandria, Va. -- The National Credit Union Administration, in its role as conservator, today released Arrowhead Central Credit Union's (Arrowhead Central) second quarter Call Report, the detailed financial statement issued by every federally insured credit union.

Thu, 22 Jul 2010 15:00:00 -0400
Agenda for the 07/29/2010 NCUA Board Meeting is available


Thu, 22 Jul 2010 14:00:00 -0400
Matz to NAFCU: Managing Risks, Preventing Losses Will Reduce CU Insurance Fees
July 22, 2010, Alexandria, Va. – Urging the nation’s credit unions to manage risks wisely, National Credit Union Administration Chairman Debbie Matz today reminded an industry trade association that credit union losses will be the key factor in determining the fees required for their federal deposit insurance fund.

Thu, 22 Jul 2010 09:00:00 -0400
$250,000 NCUA SHARE INSURANCE PROTECTION NOW PERMANENT
July 22, 2010, Alexandria, Va. -- NCUA $250,000 INSURANCE COVERAGE NOW PERMANENT

Thu, 22 Jul 2010 11:00:00 -0400
Fryzel Tours Navy FCU Facilities with Admiral Dawson
July 22, 2010, Alexandria Va. – National Credit Union Administration Board Member Michael E. Fryzel recently spent a day touring the branch facilities and surrounding Naval base of Navy Federal Credit Union located in Great Lakes Illinois.

Wed, 21 Jul 2010 14:30:00 -0400
Matz Attends Presidential Bill Signing
July 21, 2010, Alexandria, Va. -- National Credit Union Administration Chairman Debbie Matz today joined a host of Congressional and Administration leaders as President Barack Obama signed the “Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010” into law.

Tue, 20 Jul 2010 14:15:00 -0400
July 21 Closed NCUA Board Meeting Rescheduled to 8:30 a.m.
July 19, 2010, Alexandria, Va. – The time for the special closed NCUA Board meeting scheduled for July 21 has been moved from 9 a.m. to 8:30a.m.

Mon, 19 Jul 2010 15:30:00 -0400
NCUA Issues Prohibition Orders
July 19, 2010, Alexandria, Va. – The National Credit Union Administration Board has issued orders prohibiting the following individuals from participating in the affairs of any federally insured financial institution.

Thu, 15 Jul 2010 14:00:00 -0400
Matz Calls for Increased Diligence on Energy Loan Programs
July 15, 2010, Alexandria, Va. – NCUA Chairman Debbie Matz today issued the following statement in an effort to protect the safety and soundness of credit unions and consumers:

Wed, 14 Jul 2010 18:00:00 -0400
NCUA Terminates 4 Former Arrowhead Credit Union Execs
July 14, 2010, Alexandria, Va. – The National Credit Union Administration (NCUA) yesterday terminated the four former Arrowhead Central Credit Union employees who were placed on temporary administrative leave when NCUA assumed control of the credit union on June 25.

Wed, 14 Jul 2010 15:00:00 -0400
NCUA Schedules Special Board Meeting
July 14, 2010, Alexandria, Va. -- The National Credit Union Administration (NCUA) Board has scheduled a special closed Board meeting for Friday, July 21, 2010, at 9 a.m.

Wed, 14 Jul 2010 10:00:00 -0400
Regulators Issue Statement to Assist Financial Institutions and Customers Affected by the Deepwater Horizon Oil Spill
July 14, 2010, Alexandria, Va. -- The federal financial regulatory agencies and the Conference of State Bank Supervisors (the regulators) issued a statement today to assist financial institutions and their customers affected by the Deepwater Horizon Mobile Offshore Drilling Unit explosion and oil spill in the Gulf of Mexico.

Tue, 13 Jul 2010 11:00:00 -0400
Matz Encourages Congressional Action on Small Business Lending
July 13, 2010, Alexandria, Va. -- I applaud Fed Chairman Bernanke's call for increased lending to small businesses.

Wed, 07 Jul 2010 11:45:00 -0400
NCUA Schedules Special Board Meeting
July 7, 2010, Alexandria, Va. -- The National Credit Union Administration (NCUA) Board has scheduled a special closed Board meeting for Friday, July 30, 2010, at 10 a.m.

Thu, 01 Jul 2010 17:00:00 -0400
NCUA Files Notice of Claim for Losses at U.S. Central FCU
July 1, 2010, Alexandria, Va. – The National Credit Union Administration (NCUA), in its role as Conservator of US Central Federal Credit Union, yesterday filed a “notice of claim” with Travelers Casualty and Surety Co. to preserve NCUA’s right to the full amount of coverage provided under US Central’s Directors and Officers Liability policy.

Thu, 01 Jul 2010 09:00:00 -0400
First Delta Federal Credit Union Merges; Members Now Served by Shreveport Federal Credit Union
July 1, 2010, Alexandria, Va. – On June 30th, the National Credit Union Administration (NCUA) merged First Delta Federal Credit Union of Marks, Mississippi, with Shreveport Federal Credit Union of Shreveport, Louisiana.

Thu, 1 Jul 2010 07:00:00 -0400
Southwest Community Federal Credit Union Placed into Liquidation; Chartway Federal Credit Union Purchases and Assumes Assets
July 1, 2010 Alexandria, Virginia - The National Credit Union Administration (NCUA) liquidated Southwest Community Federal Credit Union of Saint George, Utah on June 30, 2010.



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