Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Two CUs cite robberies in closing branches
COLLINSVILLE, Ill. and SIOUX CITY, Iowa (7/25/12)--Two Midwest credit unions--Scott CU, Collinsville, Ill., and Telco Triad Community CU, Sioux City, Iowa--have announced they are closing branches because of multiple robberies.

Citing four robberies within two years, including two within the last five weeks, Scott CU announced the closing of a branch in Cahokia, Ill., on July 13 (stltoday.com July 24). The robberies at that branch were more than those at 14 other branches combined.

Among the issues the credit union's board noted in announcing the closing was that two of the last three robberies involved weapons and the suspects from the last two robberies have not been arrested.

Local authorities told the board the branch location--along a main city thoroughfare near the interstate--invites crime.

In a related robbery, a couple accused of robbing another Scott CU branch, in Belleville, Ill., April 12 was sentenced last week to one year of probation. The couple immediately turned themselves in following the robbery.

Rita Bell, 58, and Jeffrey Bell, 56, each pleaded guilty to felony theft on July 17. The original charges of robbery were dismissed.

At the second credit union announcing a branch closure, Telco Triad Community CU cited four robberies and two attempted robberies in the past four years at its Council Bluffs, Iowa, branch (Omaha.com July 24).

The branch had also experienced a drop off in loans, but safety was the main reason for the closing, CEO Kay Beyerink said.

Some employees had left the credit union because of trauma that resulted from the robberies, Beyerink told the paper.


RSS print
News Now LiveWire
.@TheNCUA open board meeting starts at 10 a.m. ET tomorrow. It is board member J. Mark McWatters' first. Watch @NewsNowLiveWire
12 hours ago
.@CFPB is proposing to oversee larger nonbank auto finance companies for the first time at the federal level.
13 hours ago
.@CUNA's Bill Hampel moderates a discussion on the future of credit unions in the post-100 million member world. http://t.co/kcXykiRQVn
15 hours ago
#Breaking: QE likely to end next month, @federalreserve says #NewsNow #Market http://t.co/u7Fb5l5fwM
16 hours ago
.@Experian study confirms that building a credit history is beneficial to financial marginalized communities. 64M are "credit invisibles"
16 hours ago