SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) November 27, 1996
National Consumer Cooperative Bank
(Exact Name of Registrant as Specified in Charter)
United States of America
(12 USC Section 3001 et seq.) 2-99779 52-1157795
(State of Incorporation) (Commission File Number) (IRS Employer ID No.)
1401 Eye Street, N.W., Suite 700, Washington, D.C. 20005
(Address of Principal Elective Offices) (Zip Code)
Registrant's telephone number, including area code (202) 336-7700
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Item 5 Other Events
By letter dated November 27, 1996, Pete Crear resigned as director of
the Bank, effective as of that date. Mr. Crear's letter stated that his
resignation was prompted by ongoing negotiations between the Bank and Credit
Union National Association, Inc. ("CUNA") of which Mr. Crear is Executive
Vice President and Chief Staff Officer.
The negotiations in question deal with arrangements to be made for
further security for a mortgage loan made by the Bank to CUNA Service Group
("CSG"), a subsidiary of CUNA, in connection with a transaction in which CSG
recently transferred certain assets including the property encumbered by the
mortgage to a new company. Payments on the loan in question are current.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
National Consumer Cooperative Bank
(Registrant)
Date: December 12, 1996 /s/Richard L. Reed
Richard L. Reed
Managing Director,
Chief Financial Officer
