A former Wisconsin credit union CEO who reportedly caused her credit union losses exceeding $1.7 million is permanently barred from service in any federally insured financial institution, according to a consent order announced Friday by the National Credit Union Administration (NCUA).
The NCUA said Michele Spanbauer, the former CEO of Oshkosh Postal Employees Credit Union (OPECU, now merged with Community First Credit Union, or CFCU), Oshkosh, Wis., was employed by her credit union from at least December 1997 through March 2025. The August order states that Spanbauer created fictitious loans and tried to conceal the activity by altering credit union records. Her misconduct, it says, was discovered May when the credit union was in the process of merging with CFCU.
A separate prohibition order was issued against Jennifer Tatman, formerly with Allied Plastics Federal Credit Union (APFCU), which has now merged with GP Louisiana Federal Credit Union (GP Louisiana FCU), Zachary, La. The consent order says Tatman was employed as head teller and loan manager with her credit union from at least October 2018 through February 2022. It says “it is alleged” that Tatman “stole at least $75,000 in cash from the credit union’s vault in addition to issuing loans and credit cards to family members outside the credit union’s lending policies.”
The order says the credit union began investigating Tatman’s actions in January 2022; an audit later found her misconduct caused more than $90,000 in losses to the credit union.
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