In March, NCUA prohibits three for false entries, theft, fraud

Three former credit union employees were prohibited in March from ever again working at a federally insured financial institution, the federal regulator of credit unions said Friday, for charges that ranged from making false entries to theft and fraud.

Two of those prohibited received prison sentences, and one of those was ordered to pay restitution.

The National Credit Union Administration (NCUA) said it issued the notices of prohibition against:

  • Norma Gold, a former employee of Olean Tile Employees Federal Credit Union (FCU) in Olean, N.Y. NCUA said Gold pleaded guilty to the charge of false entries in federal credit union reports; she was sentenced to 30 months in prison, three years’ supervised release and ordered to pay $179,939.21 in restitution.
  • Elizabeth Nelson Cobb, a former employee of Space Coast Credit Union in Melbourne, Fla., pleaded guilty to the charges of theft, fraud, and communication fraud; she was sentenced to 180 days in prison.
  • Linda C. Germann, a former employee of Altra FCU in Onalaska, Wis., pleaded guilty to the charge of bank theft; she received three years’ probation.

NCUA Issues Prohibition Notices