The CU Journal Daily

Register now

Swap To Facilitate Renovation

COQUILLE, Ore.-City officials have agreed to a three-way deal under which the city will purchase the 35-year-old downtown home of Oregon First Community CU, to build a new city hall, and the credit union will buy the downtown site of a vacant auto dealership to build a new headquarters.

The plans call for the CU to purchase the site of the former Southwestern Motors, demolish the building, and construct a new facility, with as much as 22,000 square feet of space.

Afterwards, the city government will vacate the 91-year-old city hall and purchase the credit union building and develop new offices there.

The credit union plans to begin construction on the $2-million project in October and occupy the new building by next summer.

Willey Brothers Adds CU Customer

NEW YORK-Willey Brothers, a design firm focusing on expanding its credit union business, said it has signed with Torrington Municipal & Teachers FCU, Torrington, Ct., to build an expansion.

The contract includes construction of a 2,400-foot expansion and renovation.

Employee Helped Foil Robbers

CALUMET CITY, Ill.-An employee at Illiana Financial CU who arrived at work just as four armed robbers were making their getaway, is being credited by police with helping to track down the thieves.

The employee was pulling into a parking space outside the credit union branch when she saw a Chevrolet Impala speed away.

The car almost struck her and she saw red, powdery smoke, which she recognized as the exploding dye pack, coming from the vehicle's window.

The employee then saw the front passenger door of the vehicle open and a man throw out a dye pack.

The woman followed the getaway car and called 911 to help police trail the robbers. Four suspects were arrested a short while later after abandoning the car at a local golf course.

They were identified as: Tyrone Love, 36, of Markham; Debra Loggins, 43, of Lynwood; Nicole Reynolds, 18, of Blue Island; and Mario Johnson, 21, of Gary, Ind. The robbers made off with $8,200.

'Hat Bandit' Menaces Minn. CUs

EAGAN, Minn.-An unarmed assailant walked into the Minnesota's Credit Union and handed the teller a threatening demand note, before making off with an undisclosed amount of cash.

The hold-up was the 12th for the suspect dubbed the 'Hat Bandit' because he always wears a gray or black fishing cap.

The suspect is also believed to be responsible for robberies at Highgrove Community FCU, Retail Employees CU, City-County FCU, Teacher FCU, Twin City Co-Op FCU, St. Paul Retail CU, Minnesota Building Trades FCU, and Highgrove Community FCU.

Former Loan Manager Convicted

SYRACUSE, N.Y.-The former loan manager at Upstate Federal Credit Union was found guilty of doctoring the books of the credit union, now known as AmeriCU, to hide $1.2 million in fraudulent loans.

John Matrulli, 59, of New Hartford, was convicted of 17 counts of making false entries, three counts of accepting bribes in exchange for granting loans, and one count of conspiracy to defraud a credit union.

Matrulli, who served as vice president of lending at the credit union for 10 years, approved more than 60 loans, totaling $1.2 million, to Craig George in George's name or in the name of his relatives.

George previously pleaded guilty to fraud charges in connection with the scheme. Matrulli accepted bribes from both George and Diana Bryant, 53, of Utica, in exchange for the loans. Bryant was convicted of five counts of defrauding a federal credit union.

CU Changes Name To Texas Trust

DALLAS-The $450-million Vought Heritage Community Credit Union has changed it's name to Texas Trust Credit Union.

The credit union, which serves 65,000 members, said it was making the name change to better position itself to serve a "growing and diverse membership."

For reprint and licensing requests for this article, click here.