NCUA Bans Six Former Credit Union Employees

NCUA official seal. (Source: NCUA)

Six former credit union employees, including a CEO, board member, controller and head teller, were banned from participating in the affairs of any insured financial institutions, the NCUA said Friday.

Kolade Awoyade, a former head teller of the $412,775 Greater Abyssinia Federal Credit Union, was sentenced to three years and ten months in 2018 after pleading guilty to embezzlement, bank fraud, and aggravated identity theft. Awoyade and the former manager and treasurer of the Cleveland-based credit union, Gwendolyn Dubose, were ordered to pay $321,497 in restitution, an amount that represented nearly 78% of the credit union’s assets that was liquidated because of their crimes. Dubose was sentenced last year to five years and four months in prison after pleading guilty to embezzlement, bank fraud, aggravated identity theft and making false entries in credit union records and reports. The NCUA banned Dubose in March.