ALEXANDRIA, Va. – NCUA this morning issued an order barring the former president of Orange County Employees FCU from the financial services industry for a $1.2 million theft that sunk the one-time $4 million Orange, Texas credit union.
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Sandra Cooper, 57, is serving a five-year prison term after pleading guilty earlier this year to embezzling the funds over a four and half year period. The credit union had just two employees and was housed in the administration building adjacent to the Orange County courthouse.
NCUA took over the credit union in June 2010 and assigned the accounts to Sabine FCU, a $150 million credit union also located in the city of Orange.
