Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU System briefs (08/02/2010)
* MECHANICSBURG, Pa. (8/3/10)--A software administrator at Mechanicsburg, Pa.-based Members 1st CU was arrested Monday and charged in the alleged hacking of the credit union's computers and embezzlement of nearly $90,000. Kim Allen Heim allegedly manipulated a test version of the credit union's software to generate changes in account records and transfer credit union funds into his private loan accounts, then moved the money from the account into his checking account (The Patriot-News Aug. 2). The scheme was uncovered in May 2009 during a routine system check when an employee noticed a 10-year car loan in Heim's name. The credit union does not allow car loans that long, said investigators. Heim was arraigned Monday on three counts each of theft by deception, unlawful use of a computer, tampering records and computer trespass. A preliminary hearing was set for Aug. 31 ... * DETROIT (8/3/10)--Closing arguments were made Monday in the trial of Timothy Dennis O'Reilly, 37, who is charged with murdering an armored truck guard during a Dec. 14, 2001, heist outside Dearborn FCU. If jurors determine that O'Reilly is guilty of murdering Norman "Anthony" Stephens, a separate trial will be held to determine whether O'Reilly should be sentenced to death or to life in prison. Michigan was the first state to ban capital punishment--in 1847--but the death penalty can still be imposed for certain federal crimes, such as murder during a bank robbery (The Detroit News Aug. 2) ... * BASKING RIDGE, N.J. (8/3/10)--Credit Union Mortgage Alliance Network (CUMAnet), a credit union service organization (CUSO) that provides mortgage origination and servicing to credit unions, has appointed Diane Johnson as president and Dirck Van Deusen as vice president, mortgage business development. CUMAnet, which originated in the northeast, has expanded to Washington D.C., Chicago and other markets. Johnson's goals include improving efficiencies and expanding CUMAnet's business on the brokerage side. Van Deusen's role is to raise overall industry awareness of CUMAnet (New Jersey Credit Union League's The Daily Exchange July 26-30) ... * HARRISBURG, Pa. (8/3/10)--Mike Casper, former Pennsylvania Credit Union Association (PCUA) board member and charter member of the Doehler-Jarvis Pottstown FCU (now Apex Community FCU), Pottstown, died July 29, at the age of 88. He was treasurer of the credit union for many years, said PCUA (Life is a Highway Aug. 2).Casper served on PCUA's board for 27 years, from 1957 to 1984, and was chairman from 1978 to 1980. He was a past president of the Montgomery County Chapter of Credit Unions. He is survived by his wife, a son and a daughter. Services are today ...


News Now LiveWire
About 1 in 5 #CUs offer credit-building loans,@SchenkMike @CUNA vice president of economics and statistics, told @CreditCardsCom
1 hour ago
RT @CUNA: DDoS attacks shorter, intense, more expensive: @VERISIGN HT @newsnowlivewire
1 hour ago
RT @CUNA: .@CUNACouncils launches new website. Offering site tours to current members. Check it out!
1 hour ago
.@Discover to support #ApplePay by fall HT @Forbes
3 hours ago
.@HUDgov requires investors to delay foreclosure for a year and offers a non-profit only pool sale
6 hours ago