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News Now

Washington
Former CU manager banned from further work
ALEXANDRIA, Va. (8/17/11)--The National Credit Union Administration (NCUA) on Tuesday prohibited Brian Zimmerman, a former manager and treasurer of Lebanon, Pa.-based LEBCO Educators FCU, from future work at any federally insured financial institution. The agency noted that violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million. The prohibition order did not list Zimmerman’s offense. Zimmerman denied guilt, but agreed to the prohibition order to “avoid the time and expense of litigation,” according to the NCUA. LEBCO, which served its nearly 1,300 members through a single branch, was merged into $360 million-asset Belco Community CU in June.
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