Wheat Used NCUA Funds For Brochure About Her

Some of the spending practices by NCUA Board Member Yolanda Wheat have created questions. Some at the agency want to know why Wheat spent NCUA funds to have the federal regulator print up full-color brochures that read, "Eisenhower High School, San Bernardino, Ca., Welcomes former student and National Credit Union Administration Board Member Yolanda Townsend Wheat" to hand out when she traveled to address her alma mater.

The brochure, printed at NCUA expense, goes on to list Wheat's accomplishments, including valedictorian, class of 1979, voted "most inspirational player" of varsity tennis team, all CBL student for 1979, and National Merit Scholar semi-finalist.

More than the $1,000 or so it cost NCUA to print up the promotional pieces for Wheat, top agency officials have expressed dismay that the printing held up the agency's printing and publication of its annual report. Others have questioned the propriety of NCUA paying for the Wheat promotion.

This follows Wheat's ill-fated expensive hiring of four outgoing Clinton Administration officials, since dismissed after Wheat's month-long service in the NCUA chairman's office; and her and her staff's relocation to the office, then imminent removal from that office upon the appointment of Dennis Dollar to the chair, as well as the recasting of NCUA stationary and photographs to reflect her brief chairmanship.