ALEXANDRIA, Va. (July 7, 2011) – The National Credit Union Administration issued an order prohibiting the following individual from participating in the affairs of any federally insured financial institution:
- Stephen Shinnick, a former employee of Norwood School Employees Federal Credit Union, Norwood, Mass., pled guilty to three counts of larceny and was sentenced to five years probation.
NCUA enforcement orders are online here, and may be inspected at NCUA’s Office of General Counsel between 9 a.m. and 4 p.m. Monday – 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.
NCUA is the independent federal agency created by
the U.S. Congress to regulate, charter and supervise
federal credit unions. With the backing of the full
faith and credit of the United States, NCUA operates
and manages the National Credit Union Share
Insurance Fund, insuring the deposits of more than
98 million account holders in all federal credit
unions and the overwhelming majority of
state-chartered credit unions. At
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.