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CU System briefs (06/16/2009)
* TAMPA, Fla. (6/17/09)--A story on a Tampa news station Friday about a data breach involving accounts at Suncoast Schools FCU has resulted in several retractions from the station for airing erroneous information, says Tom Dorety, president/CEO of the credit union. Suncoast Schools was notified by Visa that some members' accounts are among those compromised in the Heartland Payment System breach disclosed to the public in January. That breach affected millions of consumers and thousands of financial institutions, including Suncoast Schools. This latest incident is not a new breach but part of the ongoing investigative process of the Heartland breach. Dorety noted, "It was a local reporter on a Friday night who didn't bother to check with us first." The credit union was swamped with calls, and "it's been a real headache," Dorety told News Now … * BALTIMORE (6/17/09)--U.S. Rep. Elijah Cummings (D-Md.) called on credit unions to find ways to "be more effective and efficient" in helping members reach their financial goals. Cummings made the comments during a speech Friday at the Maryland and District of Columbia Credit Union Association's Fourth Annual Meeting and Convention, held at the Baltimore Convention Center. Cummings added that if credit unions controlled the marketplace, the country would not be in the economic mess it is today (FOCUS Newsletter June 15) … * SYRACUSE, N.Y. (6/17/09)--Jason J. Monto, 31, was indicted last week on felony charges of second-degree grand larceny and first-degree falsifying business records after allegedly taking advantage of a glitch and stealing $75,539 from a credit union's ATM. Monto, a member of New Process Gear CU (now Focal/Point FCU), Syracuse, had $5 in an old account at the credit union but managed to repeatedly withdraw funds from the ATM after he figured out it was not directly linked to the credit union's records during non-business hours, said prosecutors (The Post-Standard June 13) … * SAN FRANCISCO, Calif. (6/17/09)--A man who pleaded guilty to the armed robbery Aug. 6, 2008, of a Pacific Postal CU branch in San has been sentenced to 11 years and one month in prison by a U.S. District Court in San Francisco. Sefo Sagote also was sentenced to five years of supervised release after the prison term and ordered to pay $79,765 in restitution to the credit union. Sagote was one of three people arrested for the robbery. Elisara Taito, 26, was sentenced in March to 78 months in prison and five years of supervised release. Sagote's niece and former credit union employee Angelica Sagote, 20, is scheduled to be sentenced on July 6. On Aug. 4, two men attempted to rob the credit union but were caught in a "bandit barrier" that protects tellers. They fled with the purses of two members. On Aug. 6, two men robbed the credit union of more than $76,000 (US Fed News June 16) … * DALLAS (6/17/09)--A "Train the Trainer" session sponsored by the Texas Credit Union Foundation taught 21 teachers in the Dallas Independent School District (ISD) about the units in the National Endowment for Financial Education's High School Financial Planning Program (NEFE HSFPP). The teachers also learned interactive exercises to ensure effective tactics for reaching students. The Dallas ISD is offering students an economics class this summer in 11 of its 22 high schools. The class incorporates the NEFE curriculum (LoneStar Leaguer June 16) … * BATON ROUGE, La. 6/17/09)--E FCU hosted its second annual Camp
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$martMoney financial education day camp for tends on June 1-5. Fourteen teenagers learned about making, managing and multiplying their money. The camp uses educational materials from Junior Achievement, Visa's Practical Money Skills and the National Endowment for Financial Education (NEFE). Students teamed to develop summer business plans ranging from an earth-friendly landscaping business to a custom-designed flip-flop sidewalk shop. Teams received coaching from a local entrepreneur, Jared Loftus, owner of The Tiger District, a local Louisiana State University apparel retailer. Here, campers work together to develop and present a financial plan and budget for Nickelodeon cartoon character, SpongeBob Squarepants. Photo provided by E FCU) …


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