________________________________
                                )
IN THE MATTER OF                )
                                )
WILLIAM W. CROSBY               )
                                ) Docket No. 96-0801-I
Former Manager of the Former    )
First General Employees         )
Federal Credit Union            )
                                )
________________________________)

Pursuant to Section 206(i)(1) of the Federal Credit Union Act, 12 U.S.C. Section 1786(i)(1), you, William W. Crosby, are hereby prohibited from participating in any manner in the affairs of any federally insured credit union. The prohibition results from your activities as manager of the former First General Employees Federal Credit Union of Scotia, New York, and your guilty plea and conviction for one (1) count of Bank Fraud and two (2) counts of Laundering of Monetary Instruments. This prohibition is effective immediately upon service. The NCUA believes that your continued service or participation may pose a threat to the interests of credit union members or may threaten public confidence in the credit union.

In accordance with Section 206(g)(7)(A) of the Federal Credit Union Act, 12 U.S.C. Section 1786(g)(7)(A), this Order shall constitute a prohibition from further participation in any manner in the affairs of any federally insured financial institution, or other entity identified therein, without the written permission of the appropriate federal regulatory agency. This order has been issued upon the following information:

(1) A Criminal information was filed against you for one (1) count of Bank Fraud pursuant to 18 U.S.C. Section 1344; and two (2) counts of Laundering .

(2) You pleaded guilty to all counts on the information and your plea of guilty was entered at your sentencing on February 20, 1992. In accordance with the sentencing order you were sentenced to four (4) years incarceration.

(3) Upon your release from imprisonment, you were placed on two (2) years probation and ordered to pay restitution in the amount of $606,048.

Pursuant to Section 206 (i)(3) of the Federal Credit Union Act, 12 U.S.C. Section 1786(i)(3), you may request in writing, within thirty (30) days of service of this Order, an opportunity for a hearing at which you may present evidence and argument that your continued participation in the affairs of any federally insured credit union would not, or would not likely pose, a threat to the interests of that credit union's members or threaten to impair the public confidence in that credit union. You should make any such request to:

This hearing, if one is requested, will be held in Alexandria, Virginia in accordance with Subpart D of Part 747 of NCUA's Rules and Regulations, 12 C.F.R. Section 747.301 et seq.

Pursuant to Section 206(k)(2) of the Federal Credit Union Act, 12 U.S.C. Section 1786 (k)(2), any violation of this order may subject you to a Civil Money Penalty of up to $1 million dollars a day for each day said violation continues. In addition, Section 206 (1) of the Federal Credit Union Act, 12 U.S.C. Section 1786 (1), states that any violation of this Order is a felony offense punishable by up to five years imprisonment and a fine of $1 million dollars.