Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU System briefs (08/27/2012)
  • ST. GEORGE, Utah (8/28/12)--A federal grand jury in Utah indicted Christopher Harris, formerly of St. George, Utah, on fraud, bribery and money lending charges for his alleged role in a rigged contracting scheme that bilked the U.S. Army out of $20 million during a security transfer in Afghanistan. The scheme was revealed after Harris allegedly made seven withdrawals of $9,000 each from May 20098 to February 2010 from a St. George credit union, according to the Salt Lake Tribune (Aug. 24). The amounts were just under the $10,000 limit that triggers a report to the Internal Revenue Service. Harris was arrested on July 31 in Salt Lake City. Harris and co-defendants David Young of Florida and Michael Taylor of Boston are accused of allegedly used protected information to land a contract to manage supplies and equipment and to train Afghan commando troops. The charges also name American International Security Corp. of Boston, Taylor's military contracting company ...
  • SANTA ROSA, Calif. (8/28/12)--Two men have been arrested in connection with the Thursday afternoon robbery of Santa Rosa, Calif.-based Redwood CU's Point Arena branch, according to the Mendocino County (Calif.) Sheriff's Office (Ukiah Daily Journal Aug. 25). The office said that two men, one with a revolver, entered the credit union before 1 p.m. and demanded that the tellers empty their cash drawers. The two allegedly threated harm if employees or members tried to leave the credit union. The men fled with about $50,000 in a Jeep. Witnesses provided license number to police. After a chase, Raymon Ojeda, 39, of Pico Rivera, and Fred Orlando, 55, Magalia, were arrested on suspicion of armed robbery and conspiracy. Authorities recovered the cash and a revolver …
  • WICHITA, Kan. (8/28/12)--The Meritrust CU board of directors announced that Byron Stout IV, vice president of human resources, has been appointed interim president/CEO of the Wichita, Kan.-based credit union. His new role will be effective Sept. 28, upon the resignation of current Meritrust President/CEO Bob Corwin. Corwin will leave to become president/CEO of Advantis CU in Portland, Ore. Stout has been employed with $830 million asset Meritrust for the past five years, specializing in employment law, corporate wellness, training and development, corporate culture, and employee compensation and benefits. Before arriving at Meritrust, he worked 12 years in HR management for Love Box Co. …
  • SAGINAW, Mich. (8/28/12)--Catholic FCU, based in Saginaw, Mich., has lost its longest-serving volunteer with the death of Donald Gallant on Aug. 19. Gallant served on Catholic Federal's board of directors from Nov. 7, 1969, until his death. During that time he has served as chairman, vice chairman, treasurer and secretary. In 2005, the credit union recognized all his years of service by naming its Board Room in his honor. Funeral services were held Friday at St. Stephen's Catholic Church in Saginaw …


RSS print
News Now LiveWire
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
17 hours ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
19 hours ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
20 hours ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
21 hours ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
21 hours ago