Credit union regulator issues pair of prohibition actions in October

Two actions against former credit union workers were taken by their federal regulator in October, the agency said Friday, one for a theft conviction and the other for a charge of causing the institution a financial loss for an alleged larceny.

The National Credit Union Administration (NCUA) said it issued a prohibition order against Sheena Nicole Morgan, a former employee of Point Breeze Credit Union in Hunt Valley, Md., on charges of felony theft in connection with her employment at the credit union. The agency said Morgan was sentenced on charges of felony theft in the Circuit Court for Baltimore County Maryland, in connection with her employment at Point Breeze CU.

No other details were provided by the NCUA.

Meanwhile, the agency said it also issued a notice of prohibition against Suzanne Nowicki, a former employee of Westport Federal CU in Westport, Mass., who the NCUA said admitted to diverting funds from the credit union into her own personal account and allegedly concealing her actions by making offsetting false entries to the credit union’s general ledger.

An order or notice of prohibition generally prohibits a party from working for a federally insured financial institution.

NCUA Issues Prohibition Order and Notice