Industry Letter

Corporate Credit Unions and the National Credit Union Administration

October 28, 2010

To Credit Unions supervised by the New York State Banking Department

As you are well aware, much has happened throughout the credit union industry this past year, especially as pertains to the Corporate Credit Unions. In order to help keep our state charters up to date regarding this issue, we are forwarding these web links that contain information to help you further understand the situation and begin to think about how you wish to position your institution in the future vis-à-vis the new corporate alignment.

Please contact Marcel Baruth at (212) 709-1578 or Richard Cordner at (212) 709-1529 should you have further questions.

Very truly yours,

Martin D. Cofsky
Deputy Superintendent of Banks
Community and Regional Banks Division