Banking

NCUA barred two former credit union employees in July

The National Credit Union Administration issued two new prohibition orders for the month of July, permanently barring a pair of former credit union employees from working for a federally insured financial institution.

Audrey Elkins, a former manager of the $1.1 million-asset William Newton Memorial Hospital Credit Union in Winfield, Kansas, will no longer be able to engage, directly or indirectly, in any affairs of an insured depository institution, the NCUA said Friday. In the second quarter of 2018, WNMH Credit Union was consolidated into the $65.4 million-asset Panhandle Federal Credit Union based in Wellington, Kansas, due to “poor financial conditions,” according to the NCUA.

Elkins consented to the conditions imposed upon her by the prohibition, and agreed to all the terms listed. Elkins was indicted by federal prosecutors last year on charges of embezzling nearly $600,000 from WNMH Credit Union from November 2010 to November 2017, according to a local news report.

The NCUA also excised Richard Franco Arceo, a former employee of the $380 million-asset White Sands Federal Credit Union in Las Cruces, New Mexico. To settle the agency’s claim against him, Arceo accepted and consented to the issuance of a prohibition order and agreed to comply with all its terms, according to the press release.

According to NCUA filings, Arceo was accused of misappropriating member funds totaling approximately $33,620 from the credit union.

The two prohibitions handed down for July bring to 10 the number of orders issued by the NCUA this year.



Most Related Links :
dutifulnews Governmental News Finance News

Source link

Back to top button