DATE:            May 2002                                       NO:     02-RA-03

TO:                 All Federally-Insured Credit Unions

SUBJECT:   Office of Foreign Assets Control Specially Designated Nationals and Blocked Persons List

ENCL:            SDN List dated March 27, 2002

The Department of the Treasury’s Office of Foreign Asset Control (OFAC) frequently amends its listing of Specially Designated Nationals and Blocked Persons (SDN).

For your convenience, a copy of the SDN “Master List,” dated March 27, 2002 is attached.  Please retain the Master List for future reference.  In the future, we will continue to provide you with periodic amendments to the list; however, since orders requiring blocking or freezing of assets are immediate upon publication on OFAC’s Web site, you should periodically check the Web site for updates.  OFAC’s Web site is:  www.treas.gov/ofac. 

Credit unions that do not have access to the Internet can call OFAC compliance at:  1-800-540-6322, or respective NCUA regional office or state supervisory authority.

                                                                        Sincerely,

                                                                          /S/

                                                                        Dennis Dollar
                                                                        Chairman

Enclosure

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