On November 5, 2009, the California Department of Financial Institutions (DFI) issued a statement in which the agency announced changes to management within its Credit Union Division. According to the announcement these management changes may impact a credit union’s point of contact for things such as administrative applications, examination scheduling and other relevant communications relating to a credit union’s strategic business plans and general financial condition.

The management changes create two new regional portfolio management positions, which have been established to provide better coverage for the increasing workload of regulatory matters relating to state-chartered credit unions.

The announcement and portfolio management contact information may be accessed through the DFI website at: www.dfi.ca.gov/directory/cu/asp.

The NCUA announced on November 23 that it has extended the expiration date of the agency’s Temporary Corporate Credit Union Share Guarantee Program (the Program). While the Program was slated to expire on December 31, 2011, the NCUA has extended it to March 31, 2012. According to the announcement, in addition to the existing deposits already covered under the Program, new investments with maturities of two years or less in participating corporate credit unions made before March 31, 2010 also will be fully covered under the Program.