ALEXANDRIA, Va. (April 20, 2012) – The National Credit Union Administration (NCUA) issued an order prohibiting the following individual from participating in the affairs of any federally insured financial institution:
- Michael John Young, a former employee of Alabama Central Credit Union, Birmingham, Ala., was convicted of one count of bank fraud. Young was sentenced to 17 months in prison, 5 years supervised probation, and ordered to pay restitution in the amount of $140,000.
NCUA enforcement orders are online at http://go.usa.gov/yiJ and you may inspect them at NCUA’s Office of General Counsel between 9 a.m. and 4 p.m. Monday through Friday. You may order copies 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 101
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.