Sunday, January 11, 2015

Examiners Uncover Improprieties at Centra Health CU

During a routine examination, examiners with the National Credit Union Administration (NCUA) and the Bureau of Financial Institutions (BFI), a division of the Virginia State Corporation Commission, discovered apparent non-adherence to policies and procedures at Centra Health Credit Union (Lynchburg, VA).

Based upon the initial findings, the Board of the $12.3 million credit union made the decision to place on administrative leave the credit union manager and two additional employees.

The credit union's Board expects examiners to be onsite for a period of time collecting information.

Read the notice to members.

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