LETTER NO.: 98-CU-4 |
DEAR BOARD OF DIRECTORS:
Enclosed for your information is NCUA
instruction No. 13610.3, entitled "NCUA's Year 2000 (Y2K)
Contingency Plan - Ensuring Credit Union Compliance." The
contingency plan was approved by the NCUA Board at the January
22, 1998, open meeting. The NCUA Board is encouraging staff to
work cooperatively with credit unions as we progress towards the
new millennium. The instruction is also available on NCUA's Year
2000 web page and has been issued to NCUA staff, some information
system vendors, and NASCUS.
The contingency plan is intended be
flexible enough to allow NCUA to take timely action when safety
and soundness concerns exist. The plan also provides a summary
of possible administrative actions that NCUA may take to address
noncompliance and ensure uninterrupted service to credit union
members.
Please provide the attached to your
credit union's information system vendors for their information.
Sincerely,
/S/
Norman E. D'Amours
Chairman of the Board
EI/DMM:dmm
SSIC 13610
Enclosure