UNITED STATES OF AMERICA
NATIONAL CREDIT UNION ADMINISTRATION
Alexandria, Virginia
___________________________________
In the Matter of
JAE GOOK KIM, NCUA Docket No. 00-0201-I
Respondent.
____________________________________
FINAL ORDER OF PROHIBITION
WHEREAS respondent Jae Gook Kim ("Respondent"), former president of Korean
American Catholics Federal Credit Union located in Flushing, New York ("the Credit Union"),
was an "institution-affiliated party" of that credit union, as defined by 12 U.S.C. §1786(r);
WHEREAS respondent has executed a "Stipulation and Consent" to a final order of the
NCUA Board, pursuant to 12 U.S.C. §1786(g), permanently barring him from participating in the
affairs of any federally-insured financial institution, which "Stipulation and Consent" has been
accepted on behalf of the NCUA Board by its counsel;
WHEREAS Respondent has waived his right to an administrative hearing as provided in
12 U.S.C. §1786(g)(4), and has further waived his right to seek judicial review of this Final
Order of Prohibition or to otherwise challenge its validity or legality; and
WHEREAS the NCUA Board finds that Respondent's service to or participation in the
conduct of the affairs of a federally-insured credit union may pose a threat to the interests of the
members of such credit union or may threaten to impair public confidence in such credit union;
and
WHEREAS the NCUA Board has delegated authority to its Regional Directors to issue
an Order on its behalf when a respondent has consented to issuance of such an Order.
NOW, THEREFORE, IT IS HEREBY ORDERED that:
1. Jae Gook Kim is prohibited from participating in any manner in the conduct of
the affairs of any federally-insured credit union, and from continuing or commencing to hold any
office, or participate in any manner, in the conduct of the affairs of any insured depository
institution; any institution treated as an insured bank under 12 U.S.C. §1818(b)(3) or (4), or as a
savings association under 12 U.S.C. §1818(b)(8); any insured institution chartered under 12
U.S.C. §2001 et seq.; any appropriate Federal depository institution regulatory agency; the
Federal Housing Finance Board and any Federal home loan bank; and the Resolution Trust
Corporation. See 12 U.S.C. §1786(g)(7)(A);
2. The "Stipulation and Consent" to issuance of this Order is made a part hereof and is
incorporated herein by reference; and
3. This Final Order of Prohibition shall be effective and enforceable on the date of
set forth below.
IT IS SO ORDERED this ____ day of February 2000.
NATIONAL CREDIT UNION
ADMINISTRATION BOARD
By:____________________________
ANTHONY LACRETA
Acting Regional Director
NCUA Region I
I hereby certify that on this _____ day of February 2000, I caused one copy of the
foregoing "Final Order of Prohibition" and attached "Stipulation and Consent" to be served by
U.S. Mail, certified return receipt requested, upon:
Jae Gook Kim
282 Birchwood Park Drive
Jericho, NY 11753
______________________
Steven W. Widerman
Trial Attorney
Office of General Counsel
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