REGULATORY ALERT

NATIONAL CREDIT UNION ADMINISTRATION
1775 Duke Street, Alexandria, VA  22314

DATE:                 July 2002                              NO:  02-RA-07

TO:                      All Federally-Insured Credit Unions

SUBJECT:        OFAC Changes to the Specially Designated Nationals and Blocked Persons List

On June 27, 2002, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) amended its list of Specially Designated Nationals and Blocked Persons (SDN).  We have enclosed these amendments so you may review your credit union’s accounts for any matching records. 

Please note, a list of all changes made to the SDN list this year is available at www.treas.gov/offices/enforcement/ofac/sdn/index.html.

In the future, we will continue to provide you with periodic updates and amendments to this list; however, since orders requiring blocking or freezing of assets are immediate upon publication on OFAC’s website, you should periodically check the site at www.treas.gov/ofac. 

                                                            Sincerely,

                                                              /S/

                                                            Dennis Dollar
                                                            Chairman

Enclosure