For Details, Contact:
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National Credit Union
Administration 1775 Duke Street Alexandria, VA 22314-3428 Phone: (703) 518-6330 Web Address: http://www.ncua.gov/ |
FOR IMMEDIATE RELEASE |
NCUA Issues Cease and Desist OrderApril 2, 2007, Alexandria, Va. – The National Credit Union Administration (NCUA) has issued a cease and desist order against Dover N. J. Spanish American Federal Credit Union to correct substantial Bank Secrecy Act compliance problems. Dover N. J. Spanish American Federal Credit Union was originally chartered in 1970 to serve members of Our Lady Queen of the Most Holy Rosary Catholic Church and The Morris County Organization for Hispanic Affairs in Dover, New Jersey. The credit union continues serving approximately 4,000 members. Member funds are fully insured. NCUA enforcement orders are online at http://www.ncua.gov/administrative_orders/Admin/administrative.html, and may be inspected at NCUA’s Office of General Counsel between 9 a.m. and 4 p.m. Monday through Friday. Copies may be ordered by mail from NCUA, 1775 Duke St., Alexandria, Va. 22314-3428. 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 and manages the National Credit Union Share Insurance Fund, insuring the savings of over 85 million account holders in all federal credit unions and the majority of state-chartered credit unions. |