Every once in a while, a story comes along that reminds me why great journalism still matters.
For us, that story is Jackson Area Federal Credit Union.
As I mentioned in this week's PRO Pulse update, what started as a routine review of regulatory filings quickly turned into something much bigger. Credit goes to Peter Strozniak and Jim DuPlessis, who noticed an NCUA report concerning the conserved credit union had quietly been updated in May. What followed were days spent trying to understand a staggering question: What happened to $91.7 million?
While Jim was digging through financial records and regulatory filings, Peter Strozniak uncovered an unsealed civil lawsuit involving the credit union's CEO and her husband. Suddenly, two separate reporting paths began pointing toward the same story.
Since then, we've spent six straight days covering developments tied to the case, including allegations of extraordinary personal spending, luxury purchases and growing questions surrounding the credit union's operations and leadership.
What has impressed me most isn't just the story itself. It's watching our reporters do what reporters are supposed to do: make phone calls, interview attorneys, review court records, analyze financial documents and keep asking questions.
Other outlets may eventually cover this story. But Peter and Jim are living it every day right now and more stories are unfolding.
If you haven't been following our coverage, I'd encourage you to take a look. It's become one of the most compelling credit union stories of the year, and I have a feeling we're still in the early chapters.
And while you're with us, I hope you'll join me June 25 for our live CU Times PRO discussion on the mortgage market. I'll be joined by Jim DuPlessis, Executive Editor Natasha Chilingerian and Amplify Credit Union's JC San Pedro for what should be a timely conversation about one of the most important lending sectors in the industry today.
Thanks, as always, for reading, participating and supporting the work we do at CU Times PRO.
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