Termination of the October 6, 2004 Order to Cease and Desist
Issued to Empire Branch 36 NALC Credit Union
July 9, 2007
Mr. Harold Hillard
President/Board of Directors
Empire Branch 36 NALC Credit Union
347 West 41st Street
New York, NY 10036
Dear Mr. Hillard:
I am pleased to inform you that the Cease and Desist Order imposed October 6, 2004 on Empire Branch 36 NALC Credit Union has been lifted, effective July 2, 2007. The lifting of the Order is in recognition of the credit union’s substantially improved financial performance, improvements in loan underwriting, compliance with applicable laws and regulations and satisfactory compliance with the corrective actions required by the Order.
I trust that you and the management team will continue to operate the credit union in a satisfactory manner.
Very truly yours,
Deputy Superintendent of Banks