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CU System
CU System briefs (06/19/2009)
* FARMERS BRANCH, Texas (6/22/09)--A Pharr, Texas-based credit union is alerting other credit unions to a scam that uses "Doing Business As" (DBA) accounts. NAFT FCU President/CEO Suzy Brinkman-Doughty told the Texas Credit Union League that a man and woman visited one of the $50 million asset credit union's branches and each opened a personal account and a DBA account. Soon after, several small checks were deposited into the DBA accounts. On the same day as the deposits, the couple visited another branch of the credit union and withdrew the funds. Brinkman-Doughty said payroll checks starting arriving but there were no funds in the DBA accounts to cover the checks so the credit union returned them. Many of the checks were cashed at a local grocery store, but others were cashed at area financial institutions, including credit unions. The credit union closed the four accounts. "My concern is that if it happened to us, it could easily happen to another credit union. We were lucky and caught it right away. By alerting others, it is my hope that we can help other credit unions avoid losses," said Brinkman-Doughty (LoneStar Leaguer June 19) … * RANCHO CUCAMONGA, Calif. (6/22/09)--The California and Nevada Youth Involvement Network (CNYIN) has awarded $500 scholarships to three high school and college students from the two states for their winning entries in the network's annual essay contest. Amy Cook, Kara Nicholls and Amber Perez each received a scholarship for their essays on the topic, "What are the advantages of credit union membership in the current economic conditions?" "The winning entries this year provided a glimpse on how credit unions have provided a safe economic haven for young people and their families, despite these tough economic times," Michael Lee, CNYIN board chairman and education manager with The Golden 1 CU, Sacramento … * HARRISBURG, Pa. (6/22/09)--Robert Vuono, CEO of Omega FCU, Pittsburgh, died unexpectedly Thursday, the Pennsylvania Credit Union Association has learned. Vuono had been CEO of the $69 million asset credit union since 1988. He served on the Pennsylvania Credit Union Service Centers Inc. board of directors. Funeral arrangements were pending (Life is a Highway June 19) …


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