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Created by the U.S. Congress in 1970, the National Credit Union Administration is an independent federal agency that insures deposits at federally insured credit unions, protects the members who own credit unions, and charters and regulates federal credit unions.
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Cyberattacks and cybersecurity vulnerabilities pose significant risks to the financial system. Because of vulnerabilities within the credit union industry and the broader financial system to potential cyberattacks, cybersecurity is one of the NCUA’s top supervisory priorities and a top-tier risk under the agency’s enterprise risk-management program.

CUSO Internet Service

98-0620 / June 1998

Subject

CUSOs

Historic Status

Non-historic

Wayne Harubin, President
Credit Union of Denver
P.O. Box 261420
Lakewood, CO 80226-9420

Re: CUSO Internet Service, Your letter dated May 8, 1998.

Dear Mr. Harubin:

Region V has forwarded to this office your request for reconsideration of our opinion that the proposed CUSO Internet services do not fall within the permissible services listed in §712.5 of NCUA's regulation. 12 C.F.R. §712.5. We have reviewed your request and it is denied. In addition, you asked that your request be forwarded to the NCUA Board for review. As a state chartered credit union, your credit union should file its request with the state regulator. NCUA's CUSO regulation only applies to federal credit unions. 12 C.F.R. §712.1.

Sincerely,

/s/

Sheila A. Albin
Associate General Counsel

GC/MFR:bhs
SSIC 3501
98-0620

cc: Mike Johnson, Reg. V

Last modified on

11/14/24

CUSO Internet Service

Footnotes