Media Release

NCUA Issues Prohibition Orders

Alexandria, Va., September 17, 2008 – The National Credit Union Administration Board has issued orders prohibiting the following individuals from participating in the affairs of any federally insured financial institution.

Aaron Bell, a former board member of Burlington Northern Santa Fe Railroad Credit Union, Cicero, Illinois, was convicted of laundering criminal property, by committing dishonest acts against the credit union, and sentenced to two years of supervised release.

Ann M. Bryson, former employee of Good Samaritan Employees Federal Credit Union, Cincinnati, Ohio, consented to a prohibition order, without admitting or denying fault, to avoid the time and cost of litigation.  

Patricia H. Sherman, former teller of Obelisk Federal Credit Union, New Albany, Indiana, was convicted of embezzlement and sentenced to 97 months imprisonment, five years of supervised release, and ordered to pay $7,012,900 in restitution.

NCUA enforcement orders are online at http://www.ncua.gov/administrative_orders/Admin/administrative.html, and may be inspected at NCUA’s Office of General Counsel between 9 a.m. and 4 p.m. Monday through Friday. Copies may be ordered by mail from NCUA, 1775 Duke St., Alexandria, Va. 22314-3428.

Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million.

The National Credit Union Administration is the independent federal agency that charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates and manages the National Credit Union Share Insurance Fund, insuring the savings of over 88 million account holders in all federal credit unions and the majority of state-chartered credit unions.

-NCUA-