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CU System briefs (05/10/2010)
* PANAMA CITY, Fla. (5/11/10)--Bay CU, based in Panama City, is suing two men who were accused of robbing the credit union, as well as the Springfield, Fla., Police Department, to recover some of the loot confiscated during the men's arrest (The News Herald May 8). Among the items found during the arrest was about $25,000 in cash. The criminal robbery charges against Freddy Thomas and Darrell Grady were dropped when DNA evidence in the case did not conclusively prove it was Thomas who robbed the credit union's Springfield branch in December and January. A criminal case requires that prosecutors prove a defendant guilty beyond a reasonable doubt. A civil case requires only a "preponderance of the evidence" to prove guilt. The police department is named in the suit because it is the location where the money is being held, said the newspaper ... * KANSAS CITY, Mo. (5/11/10)--A former branch manager at Media First CU (now First Financial CU in Jefferson City, Mo.) pleaded guilty in federal court Friday to embezzling about $400,000 from the credit union, said the U.S. Attorney for the Western District of Missouri. Joyce Buchanan, 55, of Kansas City is charged with theft from a credit institution and bank fraud. The credit union served employees of The Kansas City Star and is located in Kansas City, Mo. She admitted that she embezzled $198,553 by making false loans from Dec. 9, 2002, to Jan. 16, 2007. She faces up to 60 years in federal prison, plus a fine of up to $2 million. The sentencing date is pending a pre-sentence investigation, said the press release from the U.S. Attorney for the Western District of Missouri (Targeted News Service May 7) ... * ROCKVILLE, Md. (5/11/10)--Rockville, Md.-based MCT FCU donated $2,500 toward the annual closing cost award given by the Affordable Housing Conference of Montgomery County as part of its "Break the Barrier to Home Ownership" contest. Three residents in the county received a total of $22,500 to help them purchase their first home at the 19th annual Affordable Housing Summit on May 3. MCT's donation directly benefited Ana Bolanos, left, an administrative support specialist with NIST-Department of Commerce in Germantown, shown here with her daughters, and Lise Tracey, executive director of Affordable Housing Conference. The contest asked applicants to state in 200 words or less what homeownership means to them. More than 100 people applied for the award this year. "Helping a local resident achieve her dream of homeownership aligns with MCT's values of supporting our local community and helping local residents and our members achieve financial success," said Robin Bates, MCT vice president of lending. (Photo provided by MCT FCU) ... * TORRINGTON, Conn. (5/11/10)--The Credit Union League of Connecticut partnered with the Leadership NW Group through the Northwest Connecticut Chamber of Commerce for a Financial Reality Fair May 5. The fair allows high schoolers to experience the reality of living on their own as young adults and being responsible for their own living expenses. More than 300 students from 12 high schools attended. Twelve Connecticut credit unions participated, providing 30 volunteers to manage the booths with 60 Chamber member volunteers. The Reality Fair is a REAL Solutions program through the National Credit Union Foundation. Students moved from table to table trying to figure the best deal for the least cost to come in under their projected monthly budget. A Wheel of Reality randomly doled out windfalls or unexpected expenses. In the photo, a student found the right car within her budget. (Photo provided by the Credit Union League of Connecticut) ...


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