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CU System
CU System briefs (02/23/2010)
* RIDLEY, Pa. (2/24/10)--A former executive vice president and marketing director of Boeing Helicopters CU, based in Ridley, was sentenced Monday to 28 months in prison and ordered to pay restitution totaling $1.25 million for taking kickbacks to arrange loans for unqualified applicants. According to the U.S. Attorney's Office, Anthony Forte, 43, of Glen Mills, pleaded guilty to charges of conspiracy, loan fraud and bank bribery. His brother, David Forte, 39, Prospect Park, who has a malignant brain tumor, was sentenced to one day in prison and ordered to pay more than $178,000 in restitution. The Fortes allegedly received about $100,000 in kickbacks from more than $2.2 million in fraudulent loans. David Forte was not an employee of the $106 million asset credit union but was recruited to find applicants for the loans (Associated Press and Philadelphia Business Journal Feb. 22) ... * PONTIAC, Mich. (2/24/10)--Genisys CU President/CEO Dianne Addington has announced she will retire April 15 after a 37-year career. She spent 22 years as CEO of T&C FCU, then Genisys CU after a 2008 merger with USA CU (Michigan Monitor Feb. 22). Addington was inducted into the Michigan Credit Union Hall of Fame and recently was presented the Glenn H. Friedt Sr. Business Medal of Honor by Cleary University. Jackie Buchanan will succeed her as CEO. Buchanan has worked with Addington for 19 years at both T&C CU and Genisys as executive vice president and chief information officer. Tom Alter, who has spent 15 years with USA CU and Genisys CU, will be appointed as president/chief operating officer ... * LONGVIEW, Texas (2/24/10)--Telco Plus CU President/CEO Diane Hollis will retire Friday after 45 years in the credit union industry (News-Journal.com Feb. 21) . She had served in the position since 1988. Her career began as a bookkeeper at LeTourneau FCU. Succeeding Hollis as president/CEO will be Betty DeWeese, who has been executive vice president of Telco Plus since 2006. DeWeese began her career in August 1983 at East Industrial Employees CU and began working for Telco when East Industrial merged with East Texas Telco CU in 1998. Telco Plus CU has $52 million in assets and is based in Longview, Texas ... * LANSING, Mich. (2/24/10)--Bobby J. McCulley, chairman of the board of OMNI Community CU, died Feb. 14 in Kalamazoo, Mich., according to the Michigan Credit Union League (Michigan Monitor Feb. 22). He was 72. McCulley served in a variety of roles as a volunteer with the credit union the past 20 years, including board vice chairman and board chairman. He also was on the board of directors at Ralston Purina CU and elected to the credit committee when Ralston and the Battle Creek, Mich.-based OMNI merged. He was elected to OMNI's board in 1988. He is survived by his wife, two sons, four grandchildren, two great-grandchildren, a brother, two sisters, and two nieces ...


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