Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Ex-manager sentenced to 11 years for 2.2M theft
HOUSTON (10/7/09)--The former manager of the Houston Longshoreman’s FCU No. 24 was sentenced to more than 11 years in prison for taking $2.2 million in fake loans. Melinda Diane Andrews, 53, managed the credit union and created 110 phony loans for more than $7 million, court documents revealed (Houston Chronicle Oct. 5). Using the bogus loans, she funneled away $2.2 million for herself and family members between 2000 and 2006, the document indicated. Because of the thefts, the credit union closed in February 2006, prosecutors alleged in the original charges against her. Andrews was sentenced to 135 months--11.25 years--in prison after being found guilty of financial institution fraud against the credit union, and for tax evasion and theft for failing to report $236,000 in stolen income in 2004. The National Credit Union Administration discovered the improprieties during an audit (Examiner.com Oct. 5).


RSS print
News Now LiveWire
Servicemember's spouse drives away with Bank on More's SUV thanks to #missouri #creditunions http://t.co/WvTrKxh0sV
1 hours ago
From @FHFA this a.m.: U.S. house prices up 0.5% in Aug. on seasonally adjusted basis from previous month. More here: http://t.co/1yVDOPggeX
2 hours ago
@TheNCUA open meeting is slated to start at 10 a.m. ET. Should be a quick one. #NewsNow http://t.co/rfYjnat7eI
2 hours ago
Mass. CUs in unanimous vote joined RI and NH CUs in approving merger of the 3 state leagues 2 form the Cooperative Credit Union Association.
2 hours ago
.@RepDennyHeck to @NWCUA Amplify conference audience: "More often than not, CUs are part of the solution"
21 hours ago