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CU System briefs (01/09/2013)
  • LANHAM, Md., and WASHINGTON (1/9/13)--FedChoice FCU, based in Lanham, Md., and Washington Post Employees FCU (WPEFCU), Washington, D.C., have merged, effect Jan. 1. The merger received near unanimous approval by more than 10% of the $19 million asset WPEFCU's membership voting. FedChoice is the surviving credit union. WPEFCU CEO Patricia Yates noted members will have an extensive offering of products and services and that FedChoice has served the community for more than 75 years. With the merger, the $320 million asset FedChoice will add another branch in Washington. WPEFCU will operate under its current name until account, service and system integration is complete at the end of first quarter. The combined credit union will have about 24,800 members …
  • SEWARD, Neb. (1/9/13)--The former manager of the now defunct HBE CU, Seward, Neb., was sentenced Monday to 45 months in prison for stealing $636,000 from the credit union ( Jan. 7). Crystal Lankford pleaded guilty to embezzlement from a federally insured credit union. She was the sole employee, manager and treasurer of the credit union. From at least April 12, 2006, to Sept. 20, 2011, Lankford allegedly wrote checks drawn on the credit union's operating account to herself and her husband, Steve Lankford without authorization and deposited the into her personal checking account. She quit the credit union in October, 2011. At that time the credit union had a near-zero balance. The accounts and funds were insured by the National Credit Union Share Insurance Fund …
  • TUSCALOOSA, Ala. (1/9/13)--Heather Marroquin, 30, of Tuscaloosa, Ala., has been sentenced to three years in prison for third-degree robbery and first-degree theft in the holdup of Tuscaloosaa-based Alabama CU on Oct. 18, 2011. Marroquin pleaded guilty on Dec. 22 in Tuscaloosa County Circuit Court ( Jan. 8). The robbery occurred when a woman entered the credit union, told the manager she had a gun and handed over a note demanding money. She then stuffed $6,000 into her bra and fled. During the getaway, the suspect jumped into a vehicle nearby and told the driver she needed help. The driver took her to her car, where police officers arrested her. Marroquin also was sentenced to five years of supervised probation after her prison term …


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