Two years ago, AEA Federal Credit Union’s future looked bleak as it nearly succumbed to the greed of a lending officer who took the cooperative to the brink of collapse.
Mendivil had been serving as executive vice president of the conserved Arizona credit union for the past two years.
This in-depth look at a conserved and now recovering Arizona credit union is a preview from next week's print edition of Credit Union Times.
Former Arizona, Massachusetts, Rhode Island credit union executives hit with prohibitions.
William Liddle already had been sentenced to 15 years in prison and ordered to pay back $25 million in restitution.
The Yuma, Ariz.-based credit union, which is still under NCUA conservatorship, posted 2012 year-end net income of $3.15 million.
William Liddle, the former lending officer convicted in the AEA Federal Credit Union case, was reportedly stabbed Monday morning.
The NCUA-managed Arrowhead Central CU added some padding to its well-capitalized status, reporting 7.69% net worth as of March 31, and a $7 million first quarter net income.
A judge has rejected claims from a real estate developer that the NCUA-conserved AEA Federal Credit Union is still responsible for funding his projects.
Prosecutors recommend developer get year in prison, probation after testifying against former credit union lending officer.