DATE: May 15, 1998
LETTER NO.: 98-CU-7
TO: ALL FEDERALLY INSURED CREDIT UNIONS
SUBJECT: NCUA YEAR 2000 COMPLIANCE
This letter is to inform you of the National Credit Union Administration's
on-going efforts to ensure all aspects of NCUA's information processing
resources and physical plant, particularly as they affect credit
unions, are fully Year 2000 (Y2K) compliant. It will also fulfill
your requirement to obtain written confirmation of our compliance
status as one of your software suppliers. We will provide our
next status update in October 1998.
NCUA began planning for Y2K compliance in 1995. For the past
three years, we have been working to completely upgrade our information
systems infrastructure. A key requirement of this process was
Y2K compliance. As a result, with the exception of several internal
systems being phased out or reengineered, our entire information
systems infrastructure has been designed for Y2K compliance.
We are now engaged in validation testing of all systems in order
to verify compliance, or identify any instances of noncompliance
so that we can correct them. At the same time, we will be obtaining
Y2K compliance certification from all of our external suppliers
of hardware, software and communications equipment in our information
processing infrastructure, and external service bureaus, such
as our personnel and payroll service providers.
Our testing will cover all of our systems, with particular emphasis
on those that may affect credit unions in their dealings with
NCUA. These include:
We expect this entire compliance validation effort to be completed
by the end of June 1998, and, with three exceptions, we plan to
complete all required corrective actions by September 30, 1998.
At that time, we will issue a follow-up Letter to Credit Unions
which will serve as NCUA's official certification of Y2K compliance
for our information processing resources and physical plant.
If you have any questions regarding the status or progress of
NCUA's Y2K compliance validation efforts, please contact the NCUA
Chief Information Officer, Douglas Verner, at (703) 518-6440.
For the National Credit Union Administration Board
/S/
Norman E. D'Amours
Chairman