ALEXANDRIA, Va. –NCUA has issued two prohibition orders and terminated one cease and desist order.
The individuals permanently prohibited from participating in the affairs of any federally insured depository institution include:
- Rachel Gaudreau, a former employee of Westport FCU in Westport, Mass. In 2020, Gandreau was one of two former employees of Westport FCU who were arrested and charged with embezzlement, although neither person worked together. Gaudreau worked at the credit union from 1995 to 2016 and was accused of stealing a check in excess of $7,500, forging the check and the signature of another employee, and then submitting the check to her credit card company to pay her bill.
Records revealed that Gaudreau deleted a second bank check for the same amount, which masked the fraudulent check, according to police. In addition to the embezzlement charge, Gaudreau was also charged with forgery and uttering.
- Shannon Rider, a former employee of Erie Times FCU, Erie, Penn. As CUToday.info reported here, on Jan. 1, 2022 the then $7.2-million ETFCU merged into Erie Federal Credit Union.
Cease & Desist Terminated
In addition, NCUA said it has terminated a 2021 cease and desist order issued to the $60.8-million Live Life FCU in Fraser, Mich., after the credit union fulfilled the terms and requirements, and the NCUA board, through its Eastern Regional Director.
That cease and desist order addressed numerous shortcomings.
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