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May 27, 1998     Hells Canyon Journal
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May 27, 1998
 

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Oregon Banks and Credit Appear Ready for Y2K The year 2000 is now just determine whether it man- over 19 months away, and ages depositors' funds appro- although much speculation priatelyand has the ability to about the next millennium is meet its obligations. questionable this much is In Dec., 1997, DFCS ex- certain: your bank or credit aminers attended training on union has to have computer new procedures with the systems that use four digits FDIC, aimed at identifying to track the yearwhen atrans- Y2Kproblems. Then, in Janu- action is supposed to take ary 1998 DFCS began work- place instead of just two - ing in conjunction with the "2000" instead of "00" -- so federal regulators to conduct that it can handle records targeted Y2K readiness ex- dated after Dee. 31, 1999. For- aminations at state-chartered tunately, regulators report institutions. that state-chartered banks ' Examiners wanted to and credit unions in Oregon verify that banks and credit seem to be in good shape, unions have completed or are This is the infamous year prepared to complete several 2000 problem, known as phases of planning: "Y2K" for short, For banks Awareness ofY2Kproblem; and credit unions, it will af- Assessment of systems to feet their ability to handle determine wherechangesare electronic records of their needed; customers' deposits, with- Remediation of systems drawals, automatic pay- that are not Y2Kcompliant; ments, and other transae- Testing to make sure new tions. Unlike many technical or modified systems actually problems, the deadline for work; and, resolving this one can't be Completion ofnew systems extended: There will be no and aehievement offullY2K "Dec. 32, 1999." readiness. Examiners with the Or- Preliminary examinations egon Division of Finance and and follow-up reviews are Corporate Securities are complete for all state-char- working with the Federal tered banks and credit Reserve, the Federal Deposit unions, although regulators Insurance Corporation and will continue to monitor Y2K the National Credit Union issues in follow-up examina- Administration to make sure tions as needed and at regu- banks and credit unions in larly-scheduled safety and Oregon are prepared. All such soundness exams for the re- institutions must be char- mainderoftheeentury. Fed- tered by either state or fed- eral guidelines call for finan- eral government. DFCS regu- cial institutions to have sub- lates the 39 state-chartered stantially completed Y2K banks and 28 state-chartered preparations by Dec., 1998. credit unions in Oregon. "Right now, we "At this point, our banks all Oregon state-chartered and credit unions appear to banks and credit unions as be well on board with the is- 'satisfactory' on Y2K plan- sue and on target with Y2K ning," Noekleby said. "Most goals established by the Fed- institutions are either at the eral Financial Institutions point of testing their Y2K Examination Council," DFCS compliant systems or are get- AdministratorRichardNock- ting ready to test them. leby said. "But we're going to Regulators emphasize that be watching this closely ev- banks and credit unions must cry step of the way. If we or also develop backup plans to the federal regulators find ensure continued service to that an institution won't be their customers even if sys- ready in time for the year terns believed to be Y2Kcom- 2000, we will take whatever pliant fail. DFCS is also urg- steps necessary to protect ing institutions to communi- their depositors and other cate actively with depositors customers. It's that serious." about their Y2K efforts. DFCS conducts regular "Consumer confidence is a "safety and soundness" ex- crucial element in the stabil- aminations of state-chartered ity and integrity of our bank- banks and credit unions. Fed- ing system," Nockleby said. eral regulators do the same "Banks and credit unions for federally-chartered insti- need to make sure their cus- tutions. Examiners normally tomers know that they are review a bank or credit going to be ready for the year union's books at least every 2000, or they may lose those custoMers'trust just asifthey 18 months --= more frequently .... S re- a , i robl ms laS. -t pare btaH : Page 13 Hells Canyon Journal May 27, 1998 Oregon Granted Assistance for Special Needs Child Care The Oregon Employment Department's system." Child Care Division announced today that The award will strengthen a planning Oregon is one of only ten states included in process for children with special needs cur- a grant to assist states in building a child- rently underway between the Child Care care system that meets the needs of chil- Division, the Oregon Developmental Dis- dren with disabilities. The project, Map to abilities Council and many public and pri- Inclusive Child Care, is sponsored by the vate partners. The grant will help them United Cerebral Palsy Association in coop- incorporate national best practices into the eration with the U.S. Department of Health Oregon project. and Human Services. The grant will cover activities including "Inclusive child care means that children participation in event planning for parents with special needs have the same access to of special-needs children, and consultation child care as other children," said Tom Olsen, from national experts in the field of child administration for the Child Care Division. care for children with special needs. "This project will bring nationally known For more information on the Map to In- experts in the field of disabilities to Oregon clusive Child Care project, contact Terry to assist us in building a truly inclusive Butler at (503)261-1672. A FOE MI MOEII 8 Adams, Steven A. Gullett, Maurice E. Pope, Milo Jacob Addison, Robert D. Hang, Vernon G. Profitt, John Calvin Allen, Silas Dale Hale, Ethel Rathke, P. Faye Anderson, Helen M. "Pagie" Hand, Maurice L. Reed, Harry LeRoy Anderson, Leo Dick "Chic" Hasher, Ernest W. "Tom" Roach, Calvin Clinton Berman, Janet S. Hayden, lolaJune Rose, Marion P. Blair, Edna Alice Heikkila, Martin J. Saling, Genevieve Bloom, Bette J. Henderson, Leonard L. Schuening, Dick Boettcher, Johnathan "Boe~ Hibblen, Ella L. Shaw, John Alexander Calder, Opal Hill, Emily Hope Shepherd, Arthur L. Carpenter, Nellie M. Howell, James E. Shepherd, Shirley C. Chadwick, Alene Grace Hvidberg, Otto Shoemaker, Philip D. Chadwick, Clifford C. Ihrig, Craig Lee Shuck, Betty Jane Christie, Sarah Ruth Jansen, Winnifred L. Smith, Eunice T. Clemens, Doris Johnson, Netta F. Smith, Louise E. Cookman, Esther M. Kennedy, John R. Smith, Veda Rose Cox, Ollie Lucille Kingston, Debra Kay Southard, Grace Ellen Cress, Florence Emma Kirldin, Melba B. Spencer, Warren A. Cropp, William W. LaMiller, Ralph J. Spriet, Presley Wayne Cunningham, Michael R. "Mike" Lancaster, Frederic L.Springer, Helen T. Davidson, Delia Ann Landers, Cody Leon Stanton, Hazel Maude Davis, Gertrude W. Large, Clay J. Starke, Mildred C. Davis, Kenneth E. Leonnig, Eidiva H. Steege, John Herman Derrick, John Floyd Lessman, Glen J. Steiger, Herman E. Dove, Alice Mac Litteral, Leonard E. Stewart, Wanda June Dyke, Lorene E. "Betty" Long, Alice E. Story, Florence Lorraine Dyke, William "Bill" Long, Blanche Pearl Sturges, Donna L.aShirle~ Ellis, Florence Manary, Nora E. Sullivan, Stewart Emele, Barbara E. Marr, Camille Avis Taylor, DeEtte Ann Finstad, Clara L. Martinez, Richard Geoffer Thomas, Vtvian Fisk, Jack H. Maxwell, Pansy O. Tucker, Dorothea Folen, Hazel B. McDowell, Leo E. Valet, Norman C. Fox, Donald. J. McKinney, Erma L. Vermillion, Eloise L. Garrigus, Forrest O. "Gus" McNair, Myrtle G. Walker, Terry Louise Garrison, Violet Medlin, Marcia Rae Ward, Kenneth J. Gentry, Patricia L. Moeller, Charles H. Wells, [.ester T. Gerry, Clifford R. Moreland, Nadyne E. Wells, Myrtle A. Gibson, Gerald G. Morrow, Leola Wendt, Ruth R. Gildersleeve, Edith M. Munn, Melvin Widman, Opal Goodwin, Page Joseph O'Hara, Vivian B. "Bene" Williams, Leroy Wayne Gover, Mary Anna Obershaw, Helen M. Wright, Rodney E." Graham, Robert Lee Oellien, Kenneth Dale Wunder, Nina June Granfors, Letha Irene Pereira, Barney A York, Dorothy E. Graves, Lola L. Pollock, Eleanore Jane Gray's West & Company 1500 Dewey Avenue Baker City 541-523-3677 SEamG BAmm Cous Sucg 1887