Former teller Teresa Ann Perkins admitted earlier this week that she embezzled $320,000 from members for nearly 11 years at the $23 Community United Federal Credit Union. She was indicted in June, two months after the NCUA placed the Waycross, Ga.-based credit union...
Credit Union Industry News & Updates
The Credit Union & Banking worlds are changing faster today than they ever have. Keep informed about what’s going on in the industry.
WHAT’S GOING ON AT CREDIT UNIONS?
In Memoriam: Kenneth Holden
Kenneth "Bunky" Holden, one of the first members of the Tewksbury Federal Credit Union and its former CEO, passed away Oct. 3. He was 81. Holden was one of the first 20 members to join the Tewksbury, Mass. credit union in 1960 and became its CEO/treasurer in 1980. He...
Payday Rules Are Better Than Expected: CU Trades
After more than a year of hand wringing, credit union officials said Friday that the CFPB’s payday loan rules will affect credit unions far less than they had feared. "Overall, based on our initial analysis and a conversation between Director Cordray and NAFCU...
The ‘Secret Weapon’ for Hiring & Keeping Employees
The U.S. economy is improving and unemployment rates are nearly back to pre-recession levels. This economic upswing has intensified an already competitive labor market where job vacancies and the inability to hire quickly can have negative business...
Credit Union Assistant Manager Sentenced
Rhoda Pohina, a former assistant manager, was sentenced to four years in prison Wednesday for stealing more than $170,000 from the $14.3 million Harrison District No. 2 Federal Credit Union in Colorado Springs, according to the 4th Judicial District Attorney's office....
Ex-CEO’s Employment Discrimination Lawsuit Dismissed
A U.S. District Court Judge in New York dismissed an employment discrimination lawsuit Tuesday brought by a former CEO who claimed a credit union allegedly didn’t hire him because he had Crohn’s disease. Sean Jelen claimed in his civil lawsuit that the...