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News Now

Washington
NCUA Bans Two From Future CU Work
ALEXANDRIA, Va. (10/1/13)--The National Credit Union Administration has banned two former credit union employees from participating in the affairs of any federally insured financial institution following their alleged involvement in embezzlement.

The NCUA said the orders involve the following individuals:
  • Former Monterey County Employees CU, Salinas, Calif., employee Mary Jane Arroyo, who was sentenced to 90 days in prison and three years of probation, and ordered to pay restitution and court costs after pleading no contest to embezzlement charges; and
  • Former Hamlet  (N.C.) FCU  employee Cynthia Mercer, who was sentenced to one year in prison and five years supervised release, and ordered to pay restitution in the amount of $169,261.79 after pleading guilty to embezzlement charges.
Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million.

Use the resource link to access all NCUA enforcement orders.


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