Banking

NCUA banned three former credit union workers in June

The National Credit Union Administration issued three prohibition orders in June, barring those former credit union employees from working for any federally insured financial institution.

The regulator said in a Thursday press release that Britany Carney, a former employee of the $109 million-aset Red River Federal Credit Union in Altus, Oklahoma, is permanently banned from participating, directly or indirectly, in the affairs of any insured depository institution.

Carney pleaded no contest and was later sentenced on the charge of embezzlement in connection with her employment at the credit union. She was accused of embezzling more than $55,000 from December 2016 to February 2019 as well as another $18,000 from the Altus youth soccer league, where she was treasurer, according to a local news report.

The NCUA also banned Linda Albion Galeoto, a former assistant CEO of the $36 million-asset Reno City Employees Federal Credit Union in Nevada. Galeoto agreed and consented to the prohibition order and agreed to comply with all its terms to settle and resolve the NCUA board’s claim against her, according to the press release.

Albion Galeoto engaged in fraudulent loan activity, misused credit union funds, misused her personal account at the credit union and manipulated the credit union’s general ledger to hide her activities, according to the NCUA.

Finally, Cara Ford, a former branch manager of the $525 million-asset JAX Federal Credit Union in Jacksonville, Florida, agreed and consented to a prohibition order against her.

Ford stole $10,000 from the branch’s ATM and attempted to conceal it by altering the branch’s general ledger account, the regulator said.

The NCUA, which releases prohibitions every month, made no orders in May — the first time that had happened in four years.

The regulator issued 34 orders in 2020 and has handed down eight so far this year.



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