For Details, Contact:
External Affairs
email: pacamail@ncua.gov
Fax: (703) 518-6409

National Credit Union Administration
1775 Duke Street
Alexandria, VA 22314-3428
Phone: (703) 518-6330
Web Address: http://www.ncua.gov/

Media Advisory

FOR IMMEDIATE RELEASE

Chairman Johnson Statement on Utah Dismissal

July 21, 2006, Alexandria, Va. – "Now that the legal process has concluded, NCUA is pleased that credit unions can now proceed knowing that there is clarity, and consumers in underserved areas will have another choice in financial services."

The National Credit Union Administration is the independent federal agency that charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates the National Credit Union Share Insurance Fund (NCUSIF), insuring the savings of nearly 85 million account holders in all federal credit unions and most state-chartered credit unions. NCUA is funded by credit unions, not tax dollars.