ALEXANDRIA, Va. (1/18/08)--The National Credit Union Administration (NCUA) Board said yesterday it has terminated a cease and desist order issued in July against Garden Savings FCU for violations of the Bank Secrecy Act (BSA). “The violations have been resolved and the credit union is now BSA compliant,” said the agency in a statement. Garden Savings, with $159 million in assets, was chartered in 1968 and has approximately 15,500 members in Parsippany, Whippany and Newark, according to the NCUA. The NCUA enforcement order issued July 3, 2007 detailed 20 areas demanding immediate attention by all directors, committee members, officers and employees. Garden Savings was ordered to engage "an individual or firm" that is a BSA/AML specialist as a consultant to help the credit union correct its deficiencies. The order also demanded that all required Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) for past reportable activities be filed within 30 days of the NCUA's order. The credit union also was required to obtain Office of Foreign Asset Control (OFAC) training for all officials "including, but not limited to, operation management, staff, and board members. It was required to hire a "competent, full-time BSA compliance officer with the delegated authority and necessary resources to implement and enforce BSA policies and procedures.