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News Now

CU System
CU System briefs (09/09/2011)
* SPRING VALLEY, N.Y. (9/12/11)--The former CEO of Spring Valley, N.Y.-based Rockland Employees FCU was sentenced Thursday to 19 months in a federal prison after pleading guilty to stealing $150,000 from the credit union (Lohud.com Sept. 8). Cynthia Vaughan pleaded guilty in May to bank fraud. Court records said that while in her position, Vaughan allegedly used the computer system to transfer funds from credit union accounts to herself and her family from October 2000 to July 2006. She had been employed at the credit union since 1997. A 2006 audit discovered suspicious activity in the accounts … * BATON ROUGE, La. (9/12/11)--Ashley E. Braud, former marketing director at Dow/Louisiana FCU, Plaquemine, La., pleaded guilty Thursday to mail fraud in a U.S. District Court in Baton Rouge. She allegedly admitted taking credit union funds in August and September 2009 to purchase 30,000 "scratch-off tickets" for personal use. The worth of the tickets was not determined. A sentencing date is pending the determination of the actual amount stolen (Associated Press Newswires Sept. 9) … * PHOENIX (9/12/11)--Phoenix-based Arizona State CU sponsored Capitol Rideshare's summer Clean Air Campaign and saved state employees more than 23,000 gallons of gas, or more than 500,000 miles. The amount equates to 5.8 fewer tons of pollutants in the air during the campaign's two week period--the highest record since 2003. Arizona State CU donated prizes to help drive carpool participation during June 20-24 and July 25-29. It also visited state employee buildings to encourage more involvement. The initiative "helps Arizona State CU maintain a strong relationship with state employees," said credit union President/CEO David E. Doss, who added more than 10% of state employees took advantage of this year's program. The credit union donated Apple iPads, iPod Shuffles and iTunes gift cards (Investment Weekly News Sept. 17) … * WARMINSTER, Pa. (9/12/11)--Warminster, Pa.-based Freedom CU announced that four of its branches are now Wi-Fi hot spots. The branches are Warminster, Abington, Northeast and Lansdale Freedom Branches. The four branches are equipped with secure wireless networks, free of charge. Members can locate the network called "4Members" in the list of available wireless networks and select the network … * SUITLAND, Md. (9/12/11)--Andrews FCU has launched the GlobeTrek Visa Rewards credit card, which has both magnetic strip and the Europay, MasterCard and Visa (EMV) technology known as "chip and PIN." The card is the first to market in the U.S., said the credit union, and is targeted to members living overseas or who are frequent international travelers. The card has no annual fee, no cash advance fee and no balance transfer fee. It provides a 3.9% introductory rate for nine months on all purchases, balance transfers and cash advances. Members earn one reward point for every dollar spent and receive 5,000 rewards points when they use their card for the first time …


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