CREDIT UNION FUND MISUSE INVESTIGATED

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, February 22, 1992                   TAG: 9202220401
SECTION: VIRGINIA                    PAGE: A-4   EDITION: METRO 
SOURCE: By NEAL THOMPSON EDUCATION WRITER
DATELINE:                                 LENGTH: Short
CREDIT UNION FUND MISUSE INVESTIGATED
An employee of the Roanoke County School Employees Federal Credit Union is under investigation for allegedly misusing an undetermined amount of funds.
The FBI has been called in to investigate the misappropriated money and will refer its findings to the U.S. Attorney's office in Roanoke.
Marty Robison, a member of the credit union's board of directors, said charges may be filed, but probably not until March.
The allegations involve the mishandling of several personal loans, Robison said.
Robison said Friday that no one is really sure of the extent of the problem at this point.
An audit is being conducted by Brown, Williams and Company, an auditing firm, and officials hope that will help determine how much money is involved and to investigate the full scope of the misuse.
Robison said he does not know how long the alleged misuse of funds had been going on.
But he said that since it apparently involved personal loans, the personal accounts of credit union members did not appear to be involved.
"We don't think it affects anybody else's accounts," Robison said.
If, however, personal accounts were affected, they would still be insured up to $100,000 by the National Credit Union Administration.
Letters were sent to all credit union members late last week informing them of the investigation. The letter also stated that the "long-time employee" had resigned.

by Bhavesh Jinadra by CNB