Mark Patchak, president/CEO of the $28.6 million Oshkosh Central Credit Union, was one of two employees suspended while the state investigates what it calls "substantial irregularities" at the Wisconsin credit union.
Catherine Tierney, president/CEO of the $2 billion Community First Credit Union in Appleton, Wis., which is temporarily managing Oshkosh Central CU's daily operations, confirmed Patchak is under suspension.
During a routine examination, auditors of Wisconsin's Department of Financial Institutions allegedly found the irregularities involving a substantial amount of money at Oshkosh Central CU, according to George Althoff, DFI's spokesperson in Madison.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
