Special Loans Specialist

NCUA bars three industry employees, merges WeDevelopment FCU. The agency accused employees in Indiana, Alaska and Arizona of using member or credit union funds for personal benefit. The National Credit Union Administration issued three prohibition orders in August against former credit union employees accused of using their positions to take money for personal benefit. The orders permanently bar Teresa Palmer, Jessie Wright and Ahmed Hamada from participating in the affairs of any federally insured depository institution. All three agreed to the orders as part of settlements with the NCUA. Palmer, a former branch manager at Centra Credit Union in Columbus, Ind., was accused of fraudulently withdrawing money from member accounts between January 2021 and December 2022. According to the NCUA, Palmer worked at Centra from at least 2014 through December 2022. A review of the credit union's records found that the alleged misconduct resulted in more than $350,000 in losses. The agency said Palmer breached her fiduciary duties to the credit union and its members and engaged in unsafe or unsound practices. Wright, a former employee of Tongass Federal Credit Union in Ketchikan, Alaska, was accused of removing cash from the credit union's premises without authorization. She worked for Tongass from August 2024 through August 2025, according to the NCUA. A review of the credit union's records found that the alleged misconduct caused $14,500 in losses. Story continued below... Free pamphlet. Bringing AI-native deep intelligence to Tyfone's AI-first solution. Most credit unions and community banks don't have an AI strategy yet, and account holders aren't waiting. They're already comparing every digital experience, banking included, to ChatGPT. Stand still and get left behind. Fathom is the AI layer woven throughout Tyfone's digital banking ecosystem, combining account holder financial data, institutional knowledge, and native banking experiences into a single intelligence layer. The third case involved Hamada, a former employee of OneAZ Credit Union in Phoenix. The NCUA said Hamada worked at OneAZ in various roles from March 2020 through May 2025. He was accused of conducting unauthorized cash and check transactions involving a member's account for his own financial benefit. Those transactions totaled more than $57,000, the agency said. The NCUA said Hamada's conduct also breached his fiduciary duties and constituted unsafe or unsound practices. A prohibition order is a permanent ban on participating in the affairs of a federally insured depository institution. The NCUA also uses other enforcement tools, including cease-and-desist orders and civil money penalties, depending on the circumstances of a case. In a separate action, the NCUA Tuesday said WeDevelopment Federal Credit Union of Kansas City, Missouri, merged into CommunityAmerica Federal Credit Union of Lenexa, Kansas, effective immediately. On July 10, the NCUA placed WeDevelopment Federal Credit Union into conservatorship and appointed itself as the conservator. The agency worked to address issues affecting the credit union's safety and soundness, but after analysis the NCUA determined that merging WeDevelopment Federal Credit Union into CommunityAmerica was in the best interest of its members. WeDevelopment Federal Credit Union was a federally insured and chartered institution serving 1,015 members with $2.4 million in assets, according to its most recent call report. Chartered in 2022, WeDevelopment Federal Credit Union served underserved communities within 57 census tracts in Jackson County, Missouri. CommunityAmerica Federal Credit Union is a federally insured and chartered credit union with 594,689 members and assets of $9 billion, according to the credit union's most recent call report. Ken McCarthy is manager of marketing communications at Tyfone, where he monitors the credit union industry and contributes to conversations shaping its future. He previously covered credit unions and community banking for American Banker and S&P Global Market Intelligence. He holds a journalism degree from Point Park University and has more than 15 years of experience covering financial services. He is also the author of three literary fiction novels.

RadiFi Credit Union's new CFO charts growth strategy focused on education over mergers. RadiFi Credit Union's new CFO charts growth strategy focused on education over mergers (Courtesy of the Jacksonville Business Journal) - National banks and community institutions crowd Northeast Florida's financial ecosystem. Though not the region's biggest, RadiFi Credit Union is betting its next phase of growth will arrive by blending education and a community-first ethos to stand out against competition. That's according to Daniela Neacsu, the neighborhood credit union's newly installed chief financial officer. She described a middle market advantage - large enough to invest in the latest analytics and tools but small enough to be nimble and move quickly. It's been under two months since Neacsu moved to the First Coast, joining after more than seven years in Allen, Texas with Community American Credit Union. Her stance on what growth means is rooted in healthy skepticism. Specifically, skepticism about whether mergers and consolidations bring true expansions for financial institutions - a trend sweeping the industry today, she said. Before migrating to the Sunshine State, Neacsu herself experienced a merger that rebranded UNIFY Financial Credit Union to CommunityAmerica Credit Union. She framed such strategic decisions as a double-edged sword: on one side, useful to expand impact but, on the other, risks pulling institutions away from their core mission. "I see my own development of RadiFi, especially knowing this growth stage [is] very deeply connected, one fuels the other," she said. "I believe the moment we stop growing is the moment we stop becoming relevant." Relevance is a core part of the credit union's strategy locally. RadiFi is among the region's largest credit unions with $710 million in assets with over 41,500 members. Last year it was the runner-up fastest-growing institution on the First Coast, with 5.91% deposit growth year-over-year, according to the latest National Credit Union Administration data. It ranked behind Community First Credit Union which saw 10.26% growth. When ranked by total deposits, it lands at No. 4 with $555.81 million - about $450 million behind the third seed, per National Credit Union Administration data. Neacsu's view reflects a certain kind of cautious approach being employed by the local credit union in this present moment. Leadership, she said, believes remaining independent allows it to move quicker, invest more directly in member relations and avoid some of the operational drag common when two large organizations merge. "The big institutions, they will not spend that much time on educating people at their level," she said. "We have that time, we can afford that. We can afford the time and the investment to make in our community." The CFO's read on Jacksonville, though still early, underscores how distinct the local market is from her previous role in Texas. Both regions see rapid population growth and credit union competition, but Neacsu described Northeast Florida as distinctly more competitive. RadiFi's in-between size, not the largest but still far from the smallest, gives it the agility to beat out opponents. Ultimately, the credit union's growth strategy plays straight into how it competes in Jacksonville. Instead of chasing scale at all costs through acquisitions, leadership is focused on relevance over many years, particularly as the area continues to grow. In the eyes of Neacsu, that happens by retaining organizational identity. "All these mergers that happen in the industry, it will be a risk for the credit union industry to move away from their main reason of existence," she said. "We don't want to be banks. We want to keep our main reason for existence: being close to our community and serve them."