NEW LONDON, Conn. — Naomi Rachleff, the wife of Edwin F. Rachleff, told Credit Union Times she didn't see any signs that her husband was depressed or worried about New London Security Federal Credit Union's financial status.
Rachleff, an A.G. Edwards broker who handled investments for New London, committed suicide by jumping from an apartment building on July 28, the same day NCUA liquidated the $12 million credit union for insolvency. There is still no reported direct tie to New London's shutdown and members' investments.
"We've been married for 60 years. 60 years," Rachleff said from her home. "We were unbelievably close. I wish I had seen a sign. I wish I was smart enough to see a sign. I'm heartbroken. I'm sad."
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New London's investment portfolio was relatively conservative. Of note, however, was a drop in investment income from $626,966 in December 2007 to $152,309 in March 2008 and then back up to $161,743 as of June 30.
Naomi said she didn't know how long he had been working at New London. Janice Brady, CEO and Herb Linder, chairman, could not be reached. NCUA has not commented on its review of the credit union's records.
"We had very little discussions about credit union business," Naomi said of her husband. "I never knew who his clients were unless a client would come up to me and say 'I am one of your husband's clients.'"
More than 600 people attended Rachleff's funeral on July 31, Naomi said.
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