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

No.   99 --- 1102 II

        WHEREAS, Richard Somers, Jr. 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, Richard Somers, Jr., 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.   Richard Somers, Jr. is an institution-affiliated party in that he was the chief executive

officer/manager of the First Credit Union of Scranton, located in Scranton, Pennsylvania.
 

                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.   Richard Somers, Jr. 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.
 

IN THE MATTER OF RICHARD SOMERS, JR. An Institution Affiliated Party and Person Participating in the Affairs  of the FIRST CREDIT UNION OF SCRANTON,  Scranton, Pennsylvania

No. 99 --- 1102 II

        The National Credit Union Administration Board, by and through its undersigned

counsel, and Richard Somers, Jr., the former chief executive officer/ manager of the First

Credit Union of Scranton, located in Scranton, Pennsylvania, 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 Richard Somers, Jr. pursuant

to Section 206 of the Federal Credit Union Act, 12 U.S.C. §1786. Richard Somers, Jr.

denies the existence of such grounds and further denies any wrongdoing or that he

engaged in any violation of any law or regulation or that he failed to comply with any

credit union's policies or procedures.  Without any admission against his interest,

Richard Somers, Jr. 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) Richard Somers, Jr. 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, Richard Somers, Jr. is subject to the authority of the

National Credit Union Administration to initiate and maintain prohibition proceedings

against him.
 

        3.   Consent. Richard Somers, Jr. 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. Richard Somers, Jr. 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 Richard Somers, Jr., execute this Stipulation and

Consent to Issuance of Order of Prohibition.
 
 

NATIONAL CREDIT UNION ADMINISTRATION
 
 

By: _______--S--________________                  11/2/99_________________
                    Allan H. Meltzer                                                 Date
            Associate General Counsel
 
 

_________--S--__________________       __10/14/99________________
                Richard Somers, Jr.                                             Date
 
 
 

(Notary Seal)                          ________--S--________________
                                                            Notary Public
 
 
 

My Commission expires: ________________________________.