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CU System Briefs (04/02/2013)
  • WYOMING, Mich. (4/2/13)--Three Grand Rapids, Mich., area men were arrested and alleged to have obtained overblown auto loans in a scam that defrauded several financial institutions of at least $200,000, area police say. The men, who were unidentified in the report, allegedly approached credit unions and banks for vehicle loans--sometimes securing three loans on the same car. The men are expected to be charged in district court with conducting criminal enterprises, said Stan Lis, supervisor of the Grand Rapids area Combined Auto Theft Unit. Forging titles was the essence of the operation. The suspects, all in their early 20s, allegedly erased lien-holder information on titles and then obtained more loans on the same car, often for five or six times the auto's value--for about $14,000 in some instances. Nine area financial institutions were defrauded of funds in the case, he added. The scam happened during three months, beginning in mid-December (mlive.com March 29) …
  • CANTON, Ohio (4/2/13)--A man was believed kidnapped and forced Friday to rob the Canton School Employees FCU in Canton, Ohio, with $163 million in assets, area police said. A man in line gave a teller a note demanding money and claimed two men , one armed with a gun, were waiting in a car in the parking lot.  Police said they received a report of a robbery in progress. The man "had been kidnapped and forced into the attempted robbery," police reports said. "All suspects" were arrested after police arrived on the scene, the reports indicated (The Repository March 31) ...
  • ENDICOTT, N.Y. (4/2/13)--Frank E. Berrish, who has served as president/CEO of Visions  FCU, in Endicott,  N.Y., for the past 37 years,  has announced his retirement, effective May 1, according to the credit union's website. Under Berrish's leadership, the credit union grew from a three-branch, $25 million asset credit union serving only IBM employees and their families, to a $3.2 billion asset credit union with 31 branches throughout parts of New York, Pennsylvania and New Jersey, serving 158,000 employees. He was a major advocate for credit unions and represented credit unions on the Federal Reserve Board Thrift Institutions' Advisory Council ...


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