The National Credit Union Administration (NCUA) has taken action against three individuals, permanently prohibiting them from participating in the affairs of any federally insured depository institution. Sarah C. Conley, a former employee of Summit Federal Credit Union in Rochester, New York, Carlene Bartley, a former employee of Municipal Credit Union in New York, New York, and Esther A. Olson, a former employee of Educational Employees Credit Union in Fresno, California, are the individuals named in the prohibition notices and consent order issued by the NCUA in March 2024.
An Order of Prohibition issued by the NCUA prevents a party from ever working for a federally insured depository institution. The agency also issues administrative orders, which are legally enforceable orders issued when violations of laws, rules, regulations, fiduciary duties, or unsafe practices are found. The three most common orders issued by the NCUA include Orders to Cease and Desist, Orders of Prohibition, and Orders Assessing Civil Money Penalties.
The NCUA’s enforcement orders and notices can be searched by name, institution, city, state, and year on their Administrative Orders webpage. This webpage also provides links to federal enforcement actions taken by banking agencies against other institutions or their affiliated parties. Members of the public can access NCUA enforcement orders online or order copies by mail from the NCUA’s office in Alexandria, Virginia.
The NCUA, established by the U.S. Congress, is an independent federal agency responsible for regulating, chartering, and supervising federal credit unions. It operates the National Credit Union Share Insurance Fund, which insures the deposits of over 135 million account holders in all federal credit unions and the majority of state-chartered credit unions. Additionally, the NCUA focuses on consumer protection and financial literacy issues.
For media inquiries, Joe Adamoli, the contact person at the NCUA, can be reached via email at JAdamoli@ncua.gov or by phone at 703.518.6572.
