NCUA official seal. (Source: NCUA)
On Friday, the NCUA ordered notices for three former credit union individuals, prohibiting them from ever participating in any affairs with federally insured depository institutions.
According to the NCUA, Tara Kewalis, former president/CEO of the $39 million Skyline Financial Federal Credit Union (SFFCU) in Waterbury, Conn., led SFFCU from September 2016 until her termination on March 17, 2012. In December 2022, Kewalis pled guilty to embezzling more than $250,000.
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She began the scheme by diverting credit union funds to various accounts held in her name, including her Christmas Club and Vacation Club accounts, using the internal accounting system to charge those stolen funds against Skyline Financial's group health insurance and other employee benefits, according to a plea agreement Kewalis signed with prosecutors. Dividing the stolen funds among a number of accounts helped to camouflage her theft, the plea agreement noted.
Kewalis also booked the charges of stolen funds against the credit union's general ledger as various expenses that she knew were for Skyline Financial's operations such as ATM settlements, insurance payments and the purchase of COVID-19 cleaning supplies, court documents showed.
According to the NCUA, her "conduct demonstrated personal dishonesty and/or unfitness to participate in conducting the affairs of a credit union."
The NCUA also banned Shelton Jordan, Sr., who was a supervisory committee chairman at the $2 million Portsmouth Schools Federal Credit Union in Portsmouth, Va. Jordan was responsible for the credit union's payroll in April 2021. Later that September, it was discovered Jordan was manipulating the payroll system by making payments to their own personal account in the amounts exceeding $95,000, resulting in significant losses for the credit union, according to NCUA's findings.
NCUA's final prohibition order announced Friday concerned Randi Marie Fisher, a former employee of the Wilkes Barre, Penn.-based Vantage Trust Federal Credit Union ($56 million in assets).
According to the NCUA, Fisher "removed $2,050 from her teller drawer and misappropriated the funds for her own purposes." The NCUA did not state when Fisher allegedly removed the money, when it was discovered or when she was employed by Vantage Trust.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
