UNITED STATES OF AMERICA
NATIONAL CREDIT UNION ADMINISTRATION
NATIONAL CREDIT UNION ADMINISTRATION BOARD

IN THE MATTER OF                                  )
                                                                        )
WALTER W. JORDAN                                  )
                                                                        )
An Institution Affiliated Party and                      )           No.  01-0401-VI
Person Participating in the Affairs                      )
of the MUSICIANS                                         )
CREDIT UNION                                            )

ORDER OF PROHIBITION

            WHEREAS, Walter W. Jordan has executed a Stipulation and Consent to Issuance of Order of Prohibition, which is accepted and approved by the National Credit Union Administration acting through its counsel; and

            WHEREAS, Walter W. Jordan in the Stipulation has consented and agreed to the issuance of this Order of Prohibition pursuant to Section 206(g) of the Federal Credit Union Act, 12 U.S.C. §1786(g), and Part 747 of the National Credit Union Administration Rules and Regulations;

NOW THEREFORE, IT IS ORDERED THAT:

                        1.         Walter W. Jordan is an institution-affiliated party in that he was an independent contractor performing collection work for the Musicians Credit Union, located in Hollywood, California.

                        2.         The Stipulation and Consent to the Issuance of this Order of Prohibition is made a part hereof and is incorporated herein by reference.  

                        3.         Walter W. Jordan is prohibited from participating in any manner in the conduct of the affairs of any federally insured credit union and any other institution as defined in 12 U.S.C. §1786(g)(7).

                        4.         This Order of Prohibition shall be effective on the date it is issued.

Dated this __7th______ day of May, 2001

NATIONAL CREDIT UNION ADMINISTRATION BOARD
by

_______________--S--____________________
ROBERT E. BLATNER
Regional Director
Region VI
National Credit Union Administration

IN THE  MATTER OF                                 )
                                                                        )
WALTER W. JORDAN                                  )
                                                                        )           No.  01-0401-VI
An Institution Affiliated Party and                      )
Person Participating in the Affairs                      )
of the MUSICIANS                                         )
CREDIT UNION                                            )

STIPULATION AND CONSENT TO ISSUANCE OF
ORDER OF PROHIBITION

            The National Credit Union Administration Board, by and through its undersigned counsel, and Walter W. Jordan, the former independent contractor performing collection work for the Musicians Credit Union, located in Hollywood, California, hereby stipulate and agree as follows:

            1.  Consideration.    The National Credit Union Administration is of the opinion that grounds exist to initiate an administrative prohibition against Walter W. Jordan pursuant to Section 206 of the Federal Credit Union Act, 12 U.S.C. §1786.  Walter W. Jordan desires to avoid the time, cost and expense of administrative litigation and hereby stipulates and agrees to the following terms in consideration of the forbearance of the National Credit Union Administration Board from conducting an administrative hearing and imposing other remedial sanctions against him.

            2.  Jurisdiction.

                        (a)        Walter W. Jordan is an "institution-affiliated party" within the meaning of Section 206(r) of the Federal Credit Union Act, 12 U.S.C. §1786(r).

                        (b)        Pursuant to the authority vested in the Board of the National Credit Union Administration under Section 206(g) of the Federal Credit Union Act, 12 U.S.C. §1786(g), and Part 747 of the National Credit Union Administration Rules and Regulations, it is an appropriate federal agency to maintain enforcement proceedings against such institution-affiliated party.  Therefore, Walter W. Jordan is subject to the authority of the National Credit Union Administration to initiate and maintain prohibition proceedings against him.

            3.  Consent.  Walter W. Jordan consents to the issuance by the National Credit Union Administration Board of the accompanying Order of Prohibition.  He further agrees to comply with its terms upon issuance and stipulates that the Order complies with all requirements of the law.

            4.  Waivers.  Walter W. Jordan waives his right to the administrative hearing provided for in Section 206(g)(4) of the Federal Credit Union Act, 12 U.S.C. §1786(g)(4).  He further waives his right to seek judicial review of the Order of Prohibition or otherwise challenge the validity or legality of the Order.

            5.  Finality.  The Order of Prohibition is issued pursuant to Section 206(g) of the Federal Credit Union Act, 12 U.S.C. §1786(g).  Upon its issuance by the National Credit Union Administration Board, it shall be a final Order, effective and fully enforceable by the National Credit Union Administration.

            WHEREFORE, in consideration of the foregoing, the undersigned, on behalf of the National Credit Union Administration and Walter W. Jordan, execute this Stipulation and Consent to Issuance of Order of Prohibition.

NATIONAL CREDIT UNION ADMINISTRATION

By: _______--S--_______________              _____April 17, 2001______
            Allan H. Meltzer                                               Date
            Associate General Counsel

__________--S--_______________              _____April 10, 2001______
            Walter W. Jordan                                             Date

(Notary Seal)               ____________________________
                                                Notary Public

My Commission expires: ________________________________