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Members Take The Money And Run

BROOKLYN, N.Y.-Two members of Ukrainian National FCU emptied the credit union vault of $32,490 while employees and management cheered them on.

The two, Andrey Dugaev, 32, of Bensonhurst, and Josefina Francisco, 38, of Jackson, N.J., were winners of Western Union's "Unlock the Vault Sweepstakes," which allowed them to grab as much cash as they could in 60 seconds from the CU, a Western Union money transfer agent.

"We spread the money on the floor of the vault in denominations of $1, $5, $10, $20 and $100," Vsevlod Salenko, president of Ukrainian National FCU, told The Credit Union Journal. Dugaev, using his hands, made five trips in and out of the vault to fill a trash can with $17,490; while Francisco collected $13,800 in her apron. Western Union ponied up another $1,200 to make her take an even $15,000--the minimum amount for the winner of the sweepstakes.

The two were chosen from more than 200,000 Western Union customers participating in the contest.

Mo. Corp In Loan Participation

ST. LOUIS-Missouri Corporate CU said it has completed a loan participation with U.S. Central CU. The loan participation was conducted on behalf of the $1.8-billion Community America Credit Union, which was seeking additional liquidity. Missouri Corporate serves nearly 200 natural-person credit unions.

CDCU Now Under Conservatorship

COLLEGE HEIGHTS, N.C.-NCUA said it took over financially ailing College Heights CU, dealing a blow to the credit union at the center of plans for a conglomeration of community development credit unions.

The $3.9-million Fayetteville, N.C., credit union had a delinquency ratio of 13% and a net capital ratio of just 2.2% at June 30. Under NCUA conservatorship, the federal regulator runs the institution until it has improved its financial condition to be returned to the membership or until it is sold to another credit union as part of an assisted merger.

NCUA To Open New Region Six

ALEXANDRIA, Va.-NCUA said it will move its west coast Region Six office from Concord, Calif., to Tempe, Ariz., effective Nov. 1.

All inquiries for credit unions supervised by Region Six should be addressed to the new Tempe office at 1230 West Washington St., Suite 301, Tempe, Ariz. 85281.

The telephone number is 602-302-6000 and the fax number is 602-302-6020. The realignment of states and closure of the Chicago office will not occur until the beginning of 2004.

Hold-Up Suspect Dies In Prison

SCHENECTADY, N.Y.-A member of Mohawk Progressive FCU, suspected in a robbery of the credit union, was declared dead at a local hospital after swallowing a golf-ball sized lump of cocaine.

Anthony LaFalce, 35, was arrested after tellers recognized him as the man who robbed the CU undisguised the day before.

'Saturday Bandit' Confesses

LUBBOCK, Texas-A man suspected in as many as 10 credit union and bank robberies pleaded guilty to five hold-ups. Timothy Gould, 42, was dubbed the 'Saturday Bandit,' because of his penchant for breaking into credit unions and banks early Saturday mornings, when most institutions employ skeleton staffs, then waiting for the employees to arrive.

Gould pleaded guilty cutting his way into the Amarillo National Bank branch here on Nov. 15, 2001, then robbing the bank. He also confessed to robberies at Lubbock FCU and WesTex FCU in 2001, as well as two branches of First National Bank. Gould netted about $750,000 during his robbery spree.

TCU Shopping For New Branches

MEMPHIS, Tenn.-Memphis Area Teachers CU has opened two new branches in Kroger supermarkets in Covington and Cordova.

The two supermarket branches make a total of four opened by the $500 million credit union so far this year, and are the first in-store branches for the credit union. The credit union has a total of 14 branches.

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