NORTON SHORES, Mich.–As CUToday.info reported here and here earlier, Kathryn Sue Simmerman, a former manager at Shoreline FCU, pleaded guilty to embezzling nearly $2 million over a 13-year period. Now, with sentencing set for this week, federal prosecutors are sharing some details about how she did it and what her life was like over that period.
Fresh Today
LARKSPUR, Calif.—A new study suggests that a mere 5% reduction in personal consumption brought by fear of terrorism is enough to push the U.S. economy into the next recession.
ALEXANDRIA, Va.–NCUA has issued a prohibition order, the only such order it issued in December.
LONDON, U.K.–Insurance coverage on consumer deposits in the U.K.’s banks, building societies and credit unions is about to decline.
DUBLIN, Ireland–Ireland’s regulators have put in place new rules that limit credit union deposits to €100,000 per member.
BATON ROUGE, La.–Pelican State Credit Union has created a video in which members share stories, often emotional, about what the credit union has meant to them. The credit union said it interviewed “hundreds” of members for stories it called “inspirational.” The interviews have been sewn together in a video called “What’s Your Story?”
ALBANY, N.Y.—New York CUs are adding members faster than they have at any point in the last 15 years.
RICHLAND, Wash.—Gesa CU is now the official credit union of the Tri-City Americans hockey team.
MADISON, Wis.–While credit unions are seeing growth in credit cards, most consumers continue to select a bank-issued credit card first when making a purchase, with bank-issued cards holding 75% of the market.
ONTARIO, Calif.–The California and Nevada Credit Union Leagues are marking the 20th anniversary of a unique agreement.