Effective Feb. 18, longtime Executive Vice President Denise Sweet-McGregor will retire after 35 years.
The problems at NCUA-conserved AEA Federal Credit Union of Yuma, Ariz., continue to garner media coverage highlighting the CU's $31 million yearend loss and negative 7.63 net worth.
Denise Sweet-McGregor, the former interim CEO of NCUA-conserved AEA Federal Credit Union of Arizona, is leaving the CU Feb. 18, it was disclosed Monday.
Signs that AEA Federal Credit Union was in trouble started well before its former executive was recently indicted for an alleged kickback ring with ties to a portfolio now crumbling under the weight of defaulted loans.
The NCUA, which over the weekend conserved AEA Federal Credit Union, reaffirmed Tuesday its policy of resolving CU failures on a case by case basis, choosing among liquidation, merger or ongoing preservation.
An 11-month federal investigation has revealed that a former vice president of business services at AEA Federal Credit Union in Yuma, Ariz., was allegedly one of the persons behind the approval of business loans in an apparent $1 million kickback scheme.
Thanksgiving has been celebrated in its most basic form at AEA Federal Credit Union.
More than $25 million in alleged fraudulent loans authorized by William Liddle, the former vice president of business services at AEA Federal Credit Union, are now in default
AEA Federal Credit Union in Yuma, Ariz., announced today it has been notified that the FBI has filed criminal charges with the U.S. Attorney's Office alleging fraudulent actions on the part of its former vice president of business services.
One of Arizona's most troubled credit unions, the $370 million AEA Federal of Yuma, has replaced its veteran CEO, Ken Bredemeyer, who is retiring after a 31-year career.