Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Ex-CEO of largest British CU under embezzlement probe
YORKSHIRE, England (8/17/09)--The former CEO of the United Kingdom's largest credit union has declared bankruptcy, and an internal investigation for embezzlement has been turned over to the West Yorkshire police. Sue Davenport, former CEO of Leeds City CU (LCCU), was granted bankruptcy at Leeds County Court (Yorkshire Post Aug. 14). Among the creditors owed was the credit union. Police are investigating allegations that she used the credit union's company card for personal expenses, made loans without following approval procedures, and changed balances in credit union members' accounts before she was forced to resign last year by regulators (News Now April 8, 2008, and Nov. 6, 2007). LCCU has 24,000 members and manages about US$49.6 million in assets. The credit union received a $6.6 million bailout from public funds earlier this year.


RSS print
News Now LiveWire
Even 1 step makes a difference in preparing for disasters #creditunions #NewsNow http://t.co/eFUmMJnIwA
2 hours ago
From today's @USATODAY front page, a shout out to #CreditUnions courtesy of @CUNA http://t.co/881vLPeECN
4 hours ago
Happy anniversary to the ATM! 45 years of self-service cash HT @GOBankingRates http://t.co/ycsm3GFwk5
6 hours ago
.@USATODAY print edition features #creditunion membership march to #100mm. Zoom in on lower left hand corner #NewsNow http://t.co/Xv8fyX7ces
6 hours ago
No special assessment for ASI member #creditunions in 2014. See #NewsNow http://t.co/NwL9eJwbiQ
6 hours ago