Six Banned From CU Industry

ALEXANDRIA, Va. - (01/30/04) -- The former chair and his daughter, amember of the credit committee of now-defunct Birch Run (Michigan)Area CU were banned from the credit union industry by NCUA foractions that helped drive the tiny credit union out of business.Harold Johnson, who chaired the $3 million credit union, and SherriHollerbeck, who both regularly overdrew their share draft accounts,were prohibited from participating in the affairs of any federallyinsured financial institution. Birch Run Area CU was eventuallymerged into Credit Union Plus in Sept. 2002. Also banned by NCUAwas Kelly Ramirez, a former teller at SPUR FCU, for embezzlingalmost $2,000 from the El Paso, Texas, credit union. NCUA also saidit banned Diane Carpenter, former chief operating officer forHallco Community FCU, Gainesville, Fla.; Jorge Cavazos, formeremployee at San Mateo CU, San Mateo, Calif.; and Rose Valdez,former bookkeeper at sun Country CU, Farmington, N.M.