Enclosed for your information is NCUA instruction No. 13610.3, entitled "NCUA's Year 2000 (Y2K) Contingency Plan - Ensuring Credit Union Compliance." The contingency plan was approved by the NCUA Board at the January 22, 1998, open meeting. The NCUA Board is encouraging staff to work cooperatively with credit unions as we progress towards the new millennium. The instruction is also available on NCUA's Year 2000 web page and has been issued to NCUA staff, some information system vendors, and NASCUS.
The contingency plan is intended be flexible enough to allow NCUA to take timely action when safety and soundness concerns exist. The plan also provides a summary of possible administrative actions that NCUA may take to address noncompliance and ensure uninterrupted service to credit union members.
Please provide the attached to your credit union's information system vendors for their information.
Norman E. D'Amours
Chairman of the Board