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CU System briefs (10/07/2010)
* BEAVERTON, Ore. (10/8/10)--The Credit Union Association of Oregon (CUAO) is supporting State Treasurer Ted Wheeler in his bid for election to the post. He was appointed to the position by Gov. Ted Kulongoski after the death of Ben Westlund in March. Pam Leavitt, CUAO vice president for governmental affairs, said the board was impressed with Wheeler's "interest in our issues and his understanding of the credit union movement." "Our board believes Treasurer Wheeler has a strong understanding of the financial marketplace and the role that credit unions play in it." Wheeler supported increasing financial literacy among the state's students, and CUAO is an advocate for legislation to increase financial literacy in the state's public school system. He also said he would be diligent in seeing that a public funds bill passed by the last legislature would be implemented in a manner consistent with the legislation's intent. Leavitt also praised Wheeler's opponent, State Sen. Chris Telfer, who has knowledge on key issues as a result of her career as a certified public accountant. Telfer is in the middle of a four-year term on the Senate ... * SOUTH BEND, Ind. (10/8/10)--A South Bend man was sentenced to 12 years in prison for robbing a branch of Teachers CU (TCU) in December. Dion Davis, 26, pleaded guilty in a U.S. District Court to aggravated bank robbery and brandishing a firearm during a crime of violence. Davis and two masked accomplices accosted a TCU employee arriving at work on Dec. 7. They pointed a gun at her and she led them into the credit union, where another employee was at work. The three robbers pointed the gun in each employee's face, ordered both to the floor and threatened to kill them before escaping with more than $65,000. Davis also is serving a four-year prison sentence for a 2008 burglary conviction. The sentences will run at the same time as the state burglary sentence. Two others, Armand White, 23, and Tremaine Grant, 26, pleaded guilty. White was sentenced to 10 years in prison, and Grant's sentencing is set for Nov. 23 (South Bend Tribune Oct. 5) ... * SPRINGFIELD, Ill. (10/8/10)--A Decatur, Ill., real estate broker, a real estate appraiser and a former credit union loan officer have been charged with nine counts each of mail fraud related to a real estate "flipping" scheme that defrauded Decatur-based Staley CU and area real estate buyers. The frauds occurred from 2002 to July 2005, said the Springfield, Ill, division of the Federal Bureau of Investigation. The broker, Terry Hart, 58, was convicted last week by federal jury on all nine counts. Diane Shelton, 62, the former loan officer, and Mark Brown, 45, of Moweaqua, Ill., the former appraiser, have pleaded guilty and will be sentenced Nov. 12. They allegedly participated in at least 40 fraudulent real estate and financing transactions totaling more than $3 million, creating a potential $1 million loss to the credit union, said the FBI in a press release. Each offense carries a maximum penalty of up to 30 years in prison and a $1 million fine ...


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