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CU System
CU System briefs (07/05/2010)
* CINCINNATI (7/6/10)--A former manager of the now-defunct Good Samaritan Employees CU based in Cincinnati, has been sentenced to 33 months in prison, followed by three years of supervised release, for defrauding the credit union. Ann Bryson, 63, of Cincinnati, also was ordered in U.S. District Court to pay restitution of more than $245,432, the amount embezzled (US Fed News July 2). Bryson pleaded guilty on March 11 to one count of bank embezzlement, which occurred while she was manager between 1998 and 2005. Court documents said she wrote credit union checks and money orders to pay personal expenses and manipulated records to evade detection. The credit union was liquidated in November 2005 ... * BROOKLYN, N.Y. (7/6/10)--Polish & Slavic FCU (PSFCU) recently awarded $300,000 in scholarships to 298 students to help defray
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their education costs. The credit union, with more than $1.3 million in assets, has offered an annual scholarship program for 10 years. This year's scholarships bring the total the credit union has handed out in scholarships to more than $2 million, which went to more than 1,4000 students in the past decade. Most recipients are in New York and New Jersey. The program recently expanded to Chicago, where PSFCU opened two branches earlier this year. In addition to its annual scholarship program, PSFCU donated more than $500,000 to endow the Chair of Polish Studies at Columbia University and has donated to the Institute of World Politics in Washington, D.C. "In these incredibly challenging times, it would be easy to step back our efforts and blame the economy, but that's not what we're about, and that's not what our members expect from us," said Dr. Thomas Bortnik, chairman. Some of the scholarship recipients are pictured here. (Photo provided by Polish & Slavic FCU) ...


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