ALEXANDRIA, Va.–NCUA has issued two consent-based prohibition orders, respectively, to two individuals who are now permanently prohibited from participating in the affairs of any federally insured depository institution.
Issued the orders were:
- Jennifer Tatman, former employee of Allied Plastics Federal Credit Union (“APFCU”), which in 2024 merged into GP Louisiana Federal Credit Union in Zachary, La. Tatman agreed and consented to the issuance of a prohibition order and agreed to comply with all its terms to settle and resolve the NCUA Board’s claims against her.
- Michele Spanbauer, the former president of the then $6.3-million Oshkosh Postal Employees Credit Union (“OPECU”), which was merged earlier this year into Community First Credit Union in Oshkosh, Wis.
- The former CEO allegedly caused her credit union losses exceeding $1.7 million, according to the consent order. Spanbauer, who was employed by her credit union from t December 1997 through March 2025, created fictitious loans and tried to conceal the activity by altering credit union records, the NCUA order states, adding that the misconduct was discovered May when the credit union was in the process of merging with CFCU.The agency said Spanbauer agreed and consented to the issuance of a prohibition order and agreed to comply with all its terms to settle and resolve the NCUA Board’s claims against her.
NCUA Orders
As the agency noted, the three most common orders issued by the NCUA include:
- An Order to Cease and Desist, which requires an institution or individual to take action (or refrain from taking action), including making restitution
- An Order of Prohibition, which prohibits an individual from ever working for a federally insured financial institution
- An Order Assessing Civil Money Penalties, which requires an institution or individual to pay an assessed penalty amount
