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CU System briefs (07/23/2010)
* ORLANDO, Fla. (7/26/10)--A retired Florida police officer was sentenced Wednesday to 20 years in prison on two money laundering charges related to the theft of $200,000 in Federal Emergency Management Agency (FEMA) funds that she deposited into accounts at Orlando FCU. Amy Bretches, 49, was found not guilty in a federal court of a third money laundering charge. Bretches opened savings and checking accounts at the credit union for herself and the Orlando Police Department Gang Resistance Education and Training. She used the police department's address and the city's taxpayer identification number, listed the city as a grant recipient and herself as the key contact. The accounts were opened in 2000 and a FEMA voucher for $200,000 was transferred into one of the accounts in 2004 (Orlando Sentinel July 22) ... * ONTARIO, Calif. (7/26/10)--Three directors have been elected to Financial Service Centers Cooperative’s board. Ron Westad, president/CEO of Arizona FCU, Phoenix, will serve a second term on the board. New additions are Bob Schumacher, MountainCrest CU, Arlington, Wash., and Ken Burns, Patelco, San Francisco. Board officers include Chairman Steven Stapp, president/CEO of San Francisco FCU; Vice Chairman John Fiore, president/CEO of Motorola Employees CU, Schaumburg, Ill.; Treasurer Patricia Smith, president/CEO of Unitus Community CU, Portland, Ore.; and Secretary Roger Michaelis, president/CEO of iQ CU, Vancouver, Wash. Other members of the board include Kevin Foster-Keddie, president/CEO of Washington State Employees CU, Olympia, Wash., and Norman Okimoto of Hawaiian Tel FCU, Honolulu ... * PITTSFIELD, Mass. (7/26/10)--Greylock FCU's Board of Directors has appointed Marilyn Sperling as president/CEO of the $1.2 billion institution, effective immediately ( July 23). Sperling, who formerly was senior vice president of the $1.2 billion asset credit union, had been appointed as interim president/CEO in June ... * RICHMOND, Va. (7/26/10)--Richmond-based Virginia CU last week offered 18 teens financial education in a five-day money camp at the Tuckahoe library branch in Henrico County. The credit union's financial education director, Cherry Hedges, taught the five one-hour sessions and noted that the students had to come up with a budget for $100 that included an expense for savings. "When I looked at everyone's budget, no one had taken out for savings," she told the Richmond Times-Dispatch (July 22). "Saving money is hard; it is a discipline. You have to train and make a conscious effort. You need to rewire your brain to think: 'When I get money, I'm going to save it,'" she said ...


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