NCUA bans former Iowa branch manager for fraud

The National Credit Union Administration issued only one prohibition order in March, barring a former branch manager of Greater Iowa Credit Union in Ames from working in the financial services industry.

In a release Wednesday, the regulator said it barred Henry Hill, who managed the $624 million-asset credit union's branch on Airport Road in Ames, Iowa.

According to the Des Moines Register, Hill told police he took money from the credit union’s vault over a period of roughly seven years. An investigation found the vault and associated accounts were short nearly $431,000, the Register report said.

Hill was indicted last summer with four felony counts of bank fraud but later agreed to plead guilty to one count in exchange for having the other three charges dropped. He was sentenced to time served and so did not serve any prison time, but was ordered to serve five years of probation and pay more than $432,000 in restitution.

The NCUA, which releases prohibitions every month, made one such order in February and two in January. The regulator issued a total of 34 in 2020.