More than a year after St. Paul Croatian Federal Credit Union was conserved and liquidated because of losses from fraud, there have been indictments, federal and international investigations and money hunts, and a lawsuit against the NCUA.
The troubles at Nevada’s Silver State Schools Credit Union, which include a 2% pay cut in September, reverberated across the state again last week.
Indictments added to nine already charged in Cleveland credit union failure.
The U.S. Department of Justice has indicted nine people, six men and three women, for fraud, bribery and money laundering in connection with the collapse of the $239 million St. Paul Croatian Federal Credit Union.
A federal grand jury indicted a St. Paul Croatian FCU member for bank fraud and money laundering that cost the credit union $2.5 million and led to its eventual closing.
As everyone knows by now, CUNA selected Bill Cheney as its next president/CEO. While I touted a month ago the strength of choosing an industry insider (Editor's Column, April 7), I really wasn't sure CUNA would follow that line of thinking.
A week after placing $250 million St. Paul Croatian Federal Credit Union into conservatorship, the NCUA on May 1 announced it was liquidating the credit union.
A week after placing $250 million St. Paul Croatian Federal Credit Union into conservatorship, the NCUA on Saturday announced it was liquidating the credit union.