Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU System briefs (11/29/2010)
* ORLANDO, Fla. (11/30/10)--A former employee of a bank and a credit union pleaded guilty two counts of bank fraud and one count of aggravated identity theft after accessing member accounts at a Lake County, Fla., branches of Orlando-based Fairwinds CU and Royal Bank of Canada. Nazreen Mohammed, 47, faces a maximum term of 30 years in prison on the fraud accounts and a mandatory two-year consecutive sentence related to the identity theft. According to the plea agreement, Mohammed gained access to credit union accounts without authorization from April 17, 2009, through July 18, 2009. She allegedly created loans and withdrew funds from the accounts of elderly or deceased members, then transferred the proceeds into accounts of other members before eventually withdrawing them. She obtained $82,300 with the ruse, and attempted to attain more than $127,431. At the bank from Nov. 5, 2009, through Jan. 7, 2010, she allegedly used the ruse to attempt to steal at least $312,581, said a prosecutor's press release (Targeted News Service Nov. 22 … *
ANN ARBOR, Mich. (11/30/10)--The Huron Valley Chapter of credit unions got some face time with several incoming lawmakers at the chapter's legislative breakfast, said the Michigan Credit Union League (Michigan Monitor Nov. 29). Participating were Reps-elect Mark Ouimet (R-52), Rick Olson (R-55), Jeff Irwin (D-53), and David Rutledge (D-54), and Sen.-elect Bruce Caswell (R-16). Ouimet and Olson discussed their experience working in the financial services industry and their interest in healthy, local financial institutions. Caswell stressed the importance of personal financial responsibility, and Rutledge mentioned he would make the bipartisan "tough votes" needed to turn around the state's economy. Pictured are participants at the breakfast. (Photo provided by the Michigan Credit Union League) … * PORTLAND, Ore. (11/30/10)--OnPoint Community CU's Credit Union for Kids Auction raised a record $124,000 to benefit the Children's Miracle Network hospitals in the area. The funds will help support a professorship for Dr. Robert Steiner at Doernbecher Children's Hospital; a labor and delivery triage room at Sacred Heart Medical Center, and a HUGS infant security system at Rogue Valley Medical Center … * TEMPE, Ariz., and CHAMBERSBURG, Pa. (11/30/10)--Patriot FCU, based in Chambersburg, Pa., and Tempe, Ariz.-based LemmonTree Marketing Group have been recognized with an honorable mention in the design/website category in the 2010 MarCom Awards of the Association of Marketing & Communication Professionals. The competition attracted more than 5,000 entries. LemmonTree revamped and redesigned the $431 million asset credit union's website with online applications, easier navigation, faster flash downloads, and features such as online chat, podcasts and financial resources …


RSS print
News Now LiveWire
Now up on News Now: Fed stays course on taper, interest rates http://t.co/6DntsW58vA
58 minutes ago
Positive performance indicators and the potential for rising interest rates in @TheNCUA 's latest economic update. http://t.co/yptPbIGvnU
3 hours ago
The @CFPB has launched a nationwide effort to provide financial education. http://t.co/sF3FXHpv3k
4 hours ago
See @CUNA's @SchenkMike on TheStreet discussing a new surge consumer confidence http://t.co/SqjarTBLCQ
4 hours ago
.@CFPB pushes back cmmt deadline on proposal to allow consumer narratives in complaints database--now 9/22, was 8/22. http://t.co/mHLlRVjEij
5 hours ago