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CU System
CU System briefs (08/03/2010)
* SYRACUSE, N.Y. (8/4/10)--Empower FCU, based in Syracuse, N.Y., has warned consumers about a hike in automated telephone calls made to area residents that attempt to "phish" information from them. The callers ask recipients to press one to reach the credit union's security department, then ask for secure information such as a personal identification number (PIN) or the three-digit code on the back of a credit card. The $831 million asset credit union says no account at the credit union has been compromised. Also, neither it nor any other financial institution will ask for secure information in this manner (pressconnects.com Aug. 2) ... * GREENBELT, Md. (8/4/10)--Felicia Douglas, 42, of Upper Marlboro, Md., a former loan supervisor at Educational Systems Employees FCU, Greenbelt, Md., has been sentenced to 51 months in prison, followed by five years of supervised release, after defrauding the credit union of more than $219,390. The sentence was part of a plea bargain. When Douglas worked for the credit union from January 2001 through November 2005, she allegedly created fraudulent checking and share accounts, loans, lines of credit and credit card accounts in the names of at least five members, including one who was deceased. The court records said she manipulated the accounts to increase credit and used the stolen funds to pay credit card bills and pay on false loans (Department of Justice press release Aug. 2) ... * WASHINGTON (8/4/10)--Counterfeit cashier's checks bearing the name of a Merced, Calif., credit union are in circulation, according to an alert from the Federal Deposit Insurance Corp. (FDIC). The credit union, Merco CU, does not issue cashier's checks; however, it does issue official checks, said FDIC. The items display a fictitious routing number, 321173386, and display a security feature statement embedded in a darkened border and long the bottom border between two padlock icons. The words, "Cashier's Check" appear near the top center along with a purchase statement, said the alert ... * MIDDLETOWN, Pa. (8/4/10)-- Mid-Atlantic Corporate CFO announced Monday the retirement of Jim Burns, senior vice president/chief financial officer (CFO), effective Aug. 31. On that date Jeff Stoner will take the position. Burns' financial services career spans about 40 years. He began as CFO with Mid-Atlantic in 1992 and was promoted in 1995 to vice president/CFO. In 2008, he became senior vice president. He also served with the Federal Reserve Bank of Philadelphia for 16 years, and in other financial institutions. Stoner began his career with the corporate in 1991 in the member services department. He was worked in progressively responsible roles in accounting, information systems and payment services, and most recently served as senior vice president, product strategy. He has served on the board of MY CU Services and on Mid-Atlantic's investment and asset liability management committees ... * JACKSONVILLE, Fla. (8/4/10)--Southeast Corporate FCU's vice president of business continuity, Ken Schroeder, has contributed to a newly published business continuity book, "My Remarkable Journey," written by Richard Arnold, founder of the "Disaster Recovery Journal." Schroeder's contribution discusses his efforts to assist credit unions in getting back up and running after Hurricane Katrina hit the Mississippi Gulf Coast in 2005. Arnold's book shows how the business continuity industry was shaped and offers insight into the journey of one of the leaders of the disaster recovery industry, said the corporate ... * TAMPA, Fla. (8/4/10)--Richard Skaggs, CEO of Consumer Credit Counseling Service of Central Florida, has resigned his position to become president of USF FCU in Tampa, said the agency. He has been with the Orlando-based credit counseling organization since 2005. He led counseling offices in the state, including locations at Tallahassee, Tampa, and Orlando (Orlando Sentinel Aug. 3) ...


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