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New Policies, Leadership Coming To Credit Union After Indictments

WILKES-BARRE – An attorney for the Wilkes-Barre City Employees Federal Credit Union wanted to reassure members about improvements, one day after five people were indicted on fraud charges.

Attorney Dominic Pannunzio said a new CEO should be hired next month, and new policies have already been added to prevent people from taking out fraudulent loans.

“The 2,300 members of our credit union are the victims in this case,” said Pannunzio. “There is no chance of anyone losing any money, if there are loses, the credit union is fully bonded… we’ve implemented new policies to make sure that nothing like this ever happens again in the future.”

Officials at city hall told Newswatch 16 that the credit union pays $750 a month to rent the space on the first floor and that the lease expires at the end of October 2016.

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