Credit union regulator prohibits two from future service in insured institutions

Two former credit union employees were barred from future participation in the affairs of any federally insured financial institution under orders announced Monday by the National Credit Union Administration (NCUA).

The NCUA said that Jennifer Furlong, a former employee of Groton Municipal Employees Federal Credit Union in Groton, Conn., entered into a pretrial diversion or similar program related to the charge of third degree larceny in connection with her employment.

It said that Teresa Hyler, a former employee of Beacon Credit Union in Lynchburg, Va., was sentenced on a charge of embezzlement in connection with her employment.

The orders, issued Nov. 10 and 17, state that violators face fines of up to $1 million a day.

NCUA Issues Two Prohibition Notices in November