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CU System
CU System briefs (02/13/2012)
  • SHEBOYGAN, Wis.  (2/14/12)--Sarah M. Gora, 33, of Sheboygan Falls, Wis., the former president of Midwest CU, was charged Friday with embezzling more than $100,000 from the credit union, falsifying loan documents and using a company credit card to purchase personal items (The Sheboygan Press Feb. 10). Gora was the only full-time employee at the Sheboygan-based credit union from June 2006 until March 2011. An internal audit revealed that $150,000 was taken from credit union funds and deposited into her account  in November 2010. Audits indicated that Gora allegedly violated rules by doubling the credit limit on her credit card and using it to make more than $62,000 in unauthorized charges. She allegedly paid the credit card balances by obtaining a car loan for $22,397 and refinancing the loan frequently over the years. She also allegedly applied for a home equity loan of $188,027, using her home for equity and completing the loan review and underwriting herself and allegedly providing false information about her credit score and the market value of the property. The home equity loan allegedly was used to pay off part of her car loan, which had risen to $62,156 …
  • YUMA, Ariz.  (2/14/12)--A Yuma, Ariz., couple was convicted Friday of a loan kickback scheme that helped cause the collapse of AEA FCU, which was placed into conservatorship in December by the National Credit Union Administration due to a large number of bad business loans (KTAR.com Feb. 11). A Phoenix jury found William Liddle, former vice president of business lending at the credit union, guilty of 54 counts, including conspiracy and credit institution fraud. His wife Rhonda Liddle was convicted on 36 counts. William Liddle was accused of conspiring with businessman Frank Ruiz to approve suspicious business loans in return for nearly $1 million in kickbacks. The credit union is still operating. Sentencing was scheduled for May 21 for the Liddles. Ruiz will be sentenced in March …
  • ANNAPOLIS, Md. (2/14/12)--Maryland has recovered 43% of the jobs it lost during the recession, ncluding a net gain of 27,000 jobs in the first 11 months of 2011, Maryland Gov. Martin O'Malley told attendees at the Leadership Dinner of the Technology Council of Maryland Jan. 18. The event was sponsored by Tower FCU. O'Malley was introduced by Cyndy Scott, senior vice president of marketing at the credit union. Scott noted that Tower's growth parallels the governor's news. Tower experienced nearly 300% growth in the past decade, hired many employees and launched new technologies for members including Mobile Web Banking. (Photo provided by the Technology Council of Maryland) …


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