ODESSA, Texas — Shem Culpepper, the CEO of the $113 millionFirst Basin Credit Union which has filed to convert its charter tothat of a mutual bank, worked for the NCUA as an examiner fromSeptember of 1987 to August of 1995, the agency has confirmed.


Rumors had held that Culpepper had been an auditor for theagency, but the agency said that Culpepper had worked as anexaminer. No information was immediately available on which regionCulpepper had served.

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