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Monthly Archives: May 2011
NCUA Earns Clean Audits
ALEXANDRIA, Va. (May 16, 2011) – The National Credit Union Administration today released 2010 audited financial reports for its four permanent funds, including the National Credit Union Share Insurance Fund (NCUSIF). All four funds received unqualified or “clean” audit opinions. “The National Credit Union Share Insurance Fund that protects more than 90 million consumers’ deposits [...]
Illinois Legislative Conference
ALEXANDRIA, Va. (May 13, 2011) – National Credit Union Administration Board Member Michael E. Fryzel addressed over 120 attendees this week at the Illinois Credit Union System’s Legislative Conference held in Springfield, IL. Appearing on a panel of state and federal regulators which included Brent Adams, Secretary of the Illinois Department of Financial and Professional [...]
NCUA Issues Prohibition Order
ALEXANDRIA, Va. (May 12, 2011) – The National Credit Union Administration Board has issued an order prohibiting the following individual from participating in the affairs of any federally insured financial institution. Vicki Lynn Weidenhof, a former employee of ALPS Federal Credit Union, Sitka, Alaska, was convicted of thrift and credit union theft, embezzlement, and misapplication [...]
Be Lined
One day A crook Mistook Mine for his own Opportunities Blown Chorus: Why would ya wanna steal from a guy like me? Can’t you see… do you think I’m blind? Look what ya took A gifted tool To distribute bliss Now, amiss Sold down ‘river Unable to deliver 1. Once had a tambourine I could [...]
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Polish & Slavic FCU Branch Opening
Alexandria Va. (May 10, 2011) – NCUA Board Member, Michael E. Fryzel, along with over 200 other dignitaries and new credit union members attended the grand opening of the Polish & Slavic Federal Credit Union’s newest branch in Bridgeview, Ill., May 5. The credit union has served the New York and New Jersey area for [...]
Loan & Lease Losses Webinar
Alexandria, Va. (May 9, 2011) – The National Credit Union Administration (NCUA) will host a webinar Thursday, May 26, entitled “Current Allowance for Loan and Lease Losses Exam Issues and Practical Ways to Factor Q&E Adjustments into the Methodology.” The webinar will begin at 2 p.m. EST and end at 4 p.m. Sponsored by NCUA’s [...]
NCUA Issues Prohibition Orders
Alexandria, VA (May 6, 2011) – The National Credit Union Administration Board has issued orders prohibiting the following individual from participating in the affairs of any federally insured financial institution. Rhett B. Rowe, a former employee of Premier Members Federal Credit Union, Boulder, Colorado, agreed and consented to the issuance of Order of Prohibition and [...]
Myers Named Director of NCUA
Va. (May 5, 2011) – National Credit Union Administration (NCUA) Board Chairman Debbie Matz today announced the selection of William Myers, of Ithaca, N.Y., to lead the Office of Small Credit Union Initiatives (OSCUI). Myers will assume his duties at NCUA June 6. “Bill Myers is nationally recognized for his exceptional and creative work supporting [...]
Credit Union Placed into Conservatorship
Alexandria, Va. (May 4, 2011) – The National Credit Union Administration (NCUA) today placed Valued Members Federal Credit Union of Jackson, Mississippi, into conservatorship. Valued Members Federal Credit Union remains open and operating. While continuing normal member services, NCUA will work to resolve issues affecting the Valued Members Federal Credit Union’s safety and soundness. Deposits [...]
Hmong American FCU Closes