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CU System Briefs (05/17/2013)
  • DALLAS, Texas (5/17/13)--Theresa Portillo, 44, former CEO of the defunct Women's Southwest FCU has been sentenced for the embezzlement of more than $3.4 million from the Dallas-based credit union.  Portillo was sentenced to  six and a half years in prison, and ordered to pay  $3.4 million in restitution. She also forfeited nine properties in the Dallas-Fort Worth area, a time share in Cabo San Lucas, Mexico, and jewelry after pleading guilty in January to the embezzlement. Federal Bureau of Investigation investigators alleged that Portillo stole from 18 financial institutions, selling many certificates of deposit and having the proceeds wired to a JP Morgan Chase account in the credit union's name. Other credit union employees had assumed the account was inactive. She allegedly used an account under a fake name to make her transactions. The National Credit Union Administration liquidated the credit union in November (The Dallas Morning News May 10) ...
  • OKLAHOMA CITY, Okla. (5/17/13)--National Credit Union Administration Board Chairman Debbie Matz visited Oklahoma City-based WEOKIE CU's main office and operations center on May 14th. "As the leader of the National Credit Union Administration, Chairman Matz plays a very important role in the regulation of credit unions. We are honored that she visited our state and credit union," said Brent Taylor, WEOKIE president/CEO. Matz was visiting the area to speak at the Credit Union Association of Oklahoma's Annual Meeting this week. Pictured during the visit are, from left: WEOKIE CU Board Members Jack McCurdy, Ron Wynne and Leonard Well; Matz; and WEOKIE Board Members Gary Tarkington, Frank Cory, Wanda Beaman, Warren Pybas and Tony Carl. (Photo provided by WEOKIE CU) ...
  • MILTON, Pa. (5/17/13)--After 36 years, the founders of the Milton, Pa.-based NU Community CU, Leroy and Patricia Miller, have announced their retirement. The Millers founded the credit union in 1977, when Leroy Miller was employed with Chef Boyardee. He approached the union about forming a credit union. The credit union's board of directors would meet in the Millers' home on Sunday afternoons to complete the weekly transactions. The credit union began with $81 and now has nearly $20 million in assets, he said. Discussing changes over the years, he said computers made transactions easier but also added rules that complicated the process. The Millers both said they will miss the people they have worked with over the years. Their daughter, Mindy Plasters, will become manager after working for the credit union for 27 years (Standard Journal May 11) ...

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