Vulnerability Summary for the Week of September 21, 2009

Using Instant Messaging and Chat Rooms Safely

September 29, 2009, Alexandria, Va. – A delegation of Illinois credit union officials traveled to Washington to attend the September 24, 2009 meeting of the NCUA Board as well as meet with their elected officials.

September 28, 2009, Alexandria, D.C. –National Credit Union Administration Board Member Michael E. Fryzel, encouraged continued dialogue with NCUA as he welcomed representatives from the Minnesota Credit Union Network to NCUA headquarters in Alexandria.

September 25, 2009, Alexandria, Va. – The National Credit Union Administration (NCUA) today accepted appointment as liquidating agent of Clearstar Financial Credit Union, in Reno Nevada, following the Nevada Division of Financial Institution’s decision to close the credit union effective September 25, 2009.

Rampant change is reason enough for credit unions to renew their interest in managing liquidity and interest rate risks, says Southwest Corporate. It lists five reasons a sound asset/liability management process makes sense in today’s economy:

U.S. Central Senior Vice President and General Counsel Francois Henriquez will step in as interim CEO after the U.S. Central Conservatorship Advisory Board voted to remove James Nance from his position as CEO, the National Credit Union Administration reported on Friday.

Individual Retirement Account owners who have already received a 2009 required minimum distribution this year are getting a break from the Internal Revenue Service.