NCUA Terminates Arrowhead Executives
The NCUA announced Wednesday evening that it has relieved four former Arrowhead Central Credit Union employees of their duties.
After the Arrowhead was conserved by the NCUA CEO Larry Sharp, Chief Financial Officer Daniel Marcicente, Senior Vice President of Lending Gene Shabinaw and Senior Vice President of Strategic Development Ray Messler were placed on paid administrative leave. However, the NCUA terminated the executive last night.
The agency said it conserved the credit union in an effort to restore normal operations with new management in place to correct financial statements and improve operational weaknesses.