Monthly Archives: November 2010

NCUA Issues Prohibition Orders

November 22, 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. Eugene Miley, an institution affiliated party of Moonlight Credit Union, Worthington, Penn., Stanwood Area Federal Credit Union, New Stanton, Penn., and Vantage Trust Federal Credit [...]
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Corporate CUSO Purchased

November 22, 2010, Alexandria, Va. — The National Credit Union Administration (NCUA) today announced the acceptance of a purchase and assumption proposal submitted by Corporate America Credit Union (Corporate America) of Birmingham, Alabama, for Smart Source Solutions, a wholly-owned credit union service organization (CUSO) of Constitution Corporate Federal Credit Union of South Wallingford, Connecticut. The [...]
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NCUA Budget

November 19, 2010, Alexandria, Va. – The 2011 Budget of $225.4 million and 1,209 full-time equivalents (FTE) is an increase of $24.5 million, or 12 percent over the prior year. This budget includes increases to accommodate normal inflationary adjustments as well as to ensure necessary enhancements to the agency’s safety and soundness mission. Highlights include: [...]
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Minority & Women Inclusion

November 18, 2010, Alexandria, Va. — National Credit Union Administration Chairman Debbie Matz announced today that Tawana Y. James has been selected to head the agency’s new Office of Minority and Women Inclusion (OMWI) to be established effective January 21, 2011. The OMWI is being created in response to the Dodd-Frank Wall Street Reform and [...]
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Pilot Loss Share Program

November 17, 2010, Alexandria, Va. — The National Credit Union Administration Board today authorized the creation of a Loss Share Pilot Program as a potential option for resolving large, complex problem credit unions at the lowest cost to the National Credit Union Share Insurance Fund. This tool is intended to facilitate resolution of large credit [...]
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Financial Education & Savings Programs

FDIC AND NCUA CHAIRS JOIN EDUCATION SECRETARY TO ANNOUNCE PARTNERSHIP TO PROMOTE FINANCIAL EDUCATION AND SAVINGS PROGRAMS Officials challenge financial institutions, schools, federal grantees and stakeholders to work together to help students and families save for college, develop smart money habits U.S. Secretary of Education Arne Duncan, Federal Deposit Insurance Corporation (FDIC) Chairman Sheila C. [...]
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Suze Orman

November 15, 2010, Alexandria, Va. — The National Credit Union Administration‟s “NCUA-safe” public education campaign took a giant step forward today with the unveiling of a 26-foot tall commercial message board in Times Square, New York, touting the safety of federal deposit insurance for credit unions. The message board, known as the “Letterman Board,” features [...]
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Songs Of Love

An album of music about love, music, dance and happiness including: Evansburg, Music To My Ears, Jennay, Margo the Fox Meets Gary the Goodman, Sacrifice The Scarf, Save The World, Special, Strange Attraction, The Road To Avebury, Venus, Dream Featuring the single: Move Meant .MP3 Lyrics Free MP3′s
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Bridge Corporate Credit Unions

November 12, 2010, Alexandria, Va. — The National Credit Union Administration today announced the creation of two new bridge corporate credit unions assuming the operations of Members United Corporate of Warrenville, Ill., and Southwest Corporate of Plano, Texas. These actions, which were originally announced in conjunction with the unveiling of NCUA’s Corporate System Resolution Plan [...]
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Gift Card Rules

The Federal Reserve Board on Tuesday announced a final rule implementing recent legislation modifying the effective date of certain disclosure requirements applicable to gift cards under the Credit Card Accountability Responsibility and Disclosure Act of 2009. The rule finalizes an interim final rule published in the Federal Register on August 17, 2010. For gift certificates, [...]
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