While acknowledging the need to attract younger members, many in the industry are too willing to promote the false narrative that millennials as a whole have different work ethics and values.

Carol Lloyd Neill

Thank you for your feedback!

We used millennial in the headline because his age makes the story interesting. There aren't many credit union CEOs his age, so it sets him apart from others. Also, his fraud scheme was very detailed and brazen for someone of his age and experience.

Heather Anderson

CU Times Executive Editor

It's interesting to go back to the June 2014 article knowing that the crimes would take place just the next month. Much of what Jelen was saying, while somewhat forward-thinking at the time, seems somewhat horrifying in hindsight.

Take this quote from the article: "I've banned the phrase 'we've always done it that way'." There's a real intense pressure on a lot of credit unions now that make us feel like we have change dramatically and radically. In context though, that attitude likely let Jelen make changes that allowed him to commit these acts of fraud. Gradual change and modernization is necessary, but it's important that we don't throw out the practices or people that have made sure the memberships money is being managed and protected safely.

Jelen also said, "We're an industry and our success is not all tied in together," but then went on to commit acts that would not only discredit his credit union and the credit unions around him, but other young CEOs.

I agree the title was a little sensationalist, but the real story here is what sort of attitudes can lead down a dangerous path if left unchecked.

Mike

I have been involved in the credit union movement for over 20 years, first as a financial statement auditor and forensic auditor and now as a CFO. This is the type of individual who makes me sick. He should be made to repay every penny including cost of investigation and cost of prosecution. This idiot makes me sick, he fired good people who probably would have detected his embezzlement and raped the CU in a little over one year. I hope his alma mater, St. Francis College, returns the money he donated to the college. That would be the ethical thing to do.

Tom Snavely