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CU System briefs (12/15/2011)
  • LITTLE ROCK, Ark. (12/16/11)--Joyce Judy, 57, a former credit union president who invested $500,000 of a member's money in a racetrack that turned out to be an international scam, was sentenced Wednesday to 26 months in prison for one count of fraud. Judy was president of Little Rock, Ark.-based Arkansas Employees FCU when the incident occurred in late 2009. She allegedly persuaded a member to invest in what she thought was a certificate of deposit, said prosecutors. Judy pooled the funds with $500,000 of her own funds. A business partner wired the money overseas without her permission, and the funds disappeared (The Associated Press via vcstar.com Dec. 14) …
  • ROCHESTER, N.H. (12/16/11)--Holy Rosary Regional CU (HRCU), based in Rochester, N.H., is commemorating its 50th anniversary next year by publishing a book, Comme D'Or (Good as Gold). Written by Michael Berhendt, a Rochester city planner, the 196-page historical memoir  explains how the credit union was established in 1962 by parishioners of the Holy Rosary Church to provide credit to French Canadian immigrants who had difficulty securing loans from local banks. It conducted business in the church's basement on Sundays after Mass, with funds reserved in a shoebox. Today, HRCU is  a full-service community institution with 17,000 members, more than $170 million in assets, and four branches …
  • MONT ALTO, Pa. (12/16/11)--Charles A. Recard of Mont Alto, Pa., died Tuesday in a Chambersburg, Pa., hospital.  He was 83.  Recard was past president, past secretary and one of the founders of the Cumberland Valley Chapter of Credit Unions (The Record Herald Dec. 14).  He worked for 33 years at Landis Machine Co., and served as past president and board member of the Lanmaco FCU, Waynesboro, Pa. He also was a plant manager at Beck manufacturing, Waynesboro, for 10 years, and was a member of the PA Central FCU in Harrisburg …


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