Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

CU System Archive

CU System

CU System briefs (09/06/2008)

 Permanent link
* RIDLEY PARK, Pa. (9/8/08)--A former executive of Boeing Helicopters CU and seven others have been charged in a loan fraud kickback scheme involving $2.54 million. Anthony Forte, a former executive vice president at the Ridley Park, Pa.-based credit union; his brother David Forte; and six others are charged with conspiracy, loan fraud and bank bribery. The charges allege that loans of $20,000 each were given to 127 unqualified loan applicants and that the eight shared $105,413 in kickbacks from borrowers, who were charged as much as $1,000 on the loans. The incidents occurred six years ago. Forte, now president of a local union, could face up to eight years in prison and a fine up to $153.25 million (The Philadelphia Daily News Sept. 5) … * TULSA, Okla. (9/8/08)--Oklahoma Central CU, a $341 million asset credit union based in Tulsa, officially celebrated its merger with Wilserv CU at an open house and branch opening Saturday. The two credit unions announced in November that Wilserv would be merged into the Oklahoma Central. Wilserv was founded as Great Lakes CU in Kansas City, Mo., but moved to Tulsa after a sponsor acquisition. In 1967 it became Williams Employees CU, and in 2004 it changed its name to WilServ. Oklahoma Central is the third largest credit union in the Tulsa area (Tulsa World Sept. 4) … * ANCHORAGE, Alaska (9/8/08)--A man has been sentenced to more than 43 years in prison for robbing a credit union branch and a bank in December 2007. Bernard Miguel Kalilikane, 39, was convicted of robbing branches of Alaska FCU and Northrim Bank. He also was convicted of being a felon in possession of a firearm. A getaway driver, Cynthia Lee Taranto, pleaded guilty earlier to armed credit union robbery and was sentenced to 20 months in prison (Associated Press Newswires Sept. 4) … * MILWAUKEE, Wis. (9/8/08)--William 'Bill' Lange, former CEO of Guardian CU in West Allis, Wis., died Aug. 29 at the age of 68 after a long battle with cancer. Lange was CEO of the $281.7 million asset credit union for 37 years. Services were held Saturday. He is survived by his wife Bobbie, four daughters and 13 grandchildren (The Milwaukee Journal Sentinel Sept. 4) …