Credit union regulator bans two, citing ATM fraud and misappropriation of funds

Two former credit union employees who allegedly, respectively, carried out ATM fraud and misappropriated members’ and credit union funds at their institutions are no longer permitted to work in any federally insured financial institution as a result of orders issued in February by the National Credit Union Administration (NCUA).

The NCUA issued the consent orders against:

  • Meaghan Brooks, a former mobile branch coordinator for HAPO Community Credit Union in Richland, Wash. The NCUA, in its order, said Brooks engaged in an “elaborate” ATM fraud, allegedly depositing funds into the ATM but not recording the transactions into the ATM transaction journal. It said she then stole the funds from the ATM when alone. Her activities caused the credit union “significant financial loss,” the agency said. Brooks “breached her fiduciary duties to HCCU and its members and engaged in unsafe or unsound practices,” the order states, adding that her conduct “either prejudiced or could have prejudiced the interests of the credit union’s members and/or provided a gain or other benefit to herself” and “demonstrated personal dishonesty and/or unfitness to participate in conducting the affairs of a credit union.”
  • Gabriel Max Finkelstein, a former employee of Genisys Credit Union in Auburn Hills, Mich. The NCUA said Finkelstein willfully misappropriated about $46,000, withdrawing cash from member accounts without members’ knowledge or authorization and from the branch cash dispenser, and using the funds for his own personal benefit. The agency said Finkelstein’s actions harmed the credit union and benefited him; “involve personal dishonesty”; and “demonstrate his unfitness to serve as an institution-affiliated party of any insured credit union.”

NCUA Prohibits Two Individuals from Participating in the Affairs of Any Federally Insured Depository Institution