The NCUA has banned two former employees from participating in the business of any federally insured financial institution.
Vanessa Anderson-Hollins, a former employee of the $ 5.3 million Port of Houston Warehouse Federal Credit Union in Houston, accepted a restraining order for allegedly failing to deposit $ 9,177 in members’ cash deposits. She used the funds for her personal use, according to the NCUA.
Anderson-Hollins has neither admitted nor denied any wrongdoing. The restraining order did not indicate whether she had accepted or made restitution.
Janine Wilson, a former $ 212 million Preferred Credit Union employee in Grand Rapids, Mich., Accepted a restraining order after allegedly taking $ 4,775 from her cash drawer.
Wilson has neither admitted nor denied any wrongdoing. The restraining order did not indicate whether she accepted or made restitution.
The new banning orders, issued on December 31, brought the total number of former credit union employees placed on the banned list to 35 in 2020. The independent federal agency banned 40 former co-op employees from credit in 2019.
Additionally, in 2019, the NCUA issued two cease and desist orders for the Phi Beta Sigma Federal Credit Union of $ 681,091 in Washington, DC, and the Defense Logistics Federal Credit Union of $ 596,966 in Picatinny Ars, NJ, according to the Federal Agency’s Administrative Orders website.
The NCUA did not issue a press release in 2019 when the cease and desist orders were issued. However, in December 2016, the agency issued a press release when it issued a cease and desist order for $ 57,984 SM Federal Credit Union in Philadelphia. The credit union is listed as inactive, according to the NCUA.
The NCUA Administrative Orders site does not list any cease and desist orders for 2020.
Phi Beta Sigma FCU has consented to the implementation of 18 different stipulations, including the development of BSA procedures and training, the performance of audits, the verification of members’ accounts, the documentation of internal controls and the termination of the underwrite new loans until credit committee members receive appropriate training.
Defense Logistics FCU has agreed to the implementation of 15 different stipulations such as carrying out an examination of all members and verifying the identity of each member, carrying out a BSA audit, carrying out periodic internal control procedures, obtaining an audit report from the oversight committee, maintaining a list of loan extensions and reviewing loan write-off methods.
NCUA did not respond to CU time‘asks to explain why he has not issued a press release for these cease and desist orders.