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News Now

CU System
CU System briefs (12/04/2012)
  • SHEBOYGAN, Wis. (12/5/12)--The former president of Midwest CU, a $3.8 million asset credit union based in Sheboygan, Wis., was sentenced Monday to one year in jail and eight years of probation in the embezzlement of more than $100,000 from the credit union. Sarah M. Gora, 33, of Mosinee, was also ordered by the Sheboygan County Circuit Court to repay $91,547 and will be granted work-release while in jail, with a portion of her wages going to the credit union (Sheboygan Press Dec. 3). Gora, in a plea bargain, pleaded no contest to one felony count of theft from a financial institution. An audit discovered stolen funds, falsified loan documents and the use of a company credit card for personal items and vacations. She was the only full-time employee at the credit union from June 2006 until March 2011. Gora allegedly put the stolen funds into a personal account at another credit union …
  • MARLBOROUGH, Mass. (12/5/12)--The Massachusetts Credit Union League's Financial Literacy Committee has announced the league will sponsor six college sponsorships to be awarded in late April to high school seniors. The scholarships are $1,500 each and will be awarded to one of each of the league's six chapters. Credit unions must submit their top three choices to their chapter president by March 19. The chapter's top entry must be submitted no later than April 9, said the league (Values & Visions December) …
  • SPRINGFIELD, Mass. (12/5/12)--The Massachusetts District Office of the U.S. Small Business Admiminstration (SBA) has named Springfield, Mass.-based Freedom CU as the top SBA 7(a) Lender in total dollars throughout Western Massachusetts (The Republican Dec. 3). In 2012, Freedom approved seven loans totaling $2.8 billion. Freedom's commercial loan officer, Bryan Kaye, accepted the award at a ceremony in Boston …


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