06/01/2026

Credit Union Helps Thwart Attempted $2.2-Million Treasury Check Fraud

CU Today

READING, Pa.—A Pennsylvania credit union helped uncover an alleged fraud scheme involving a stolen $2.2-million U.S. Treasury check after staff flagged an attempt to deposit the payment into a newly opened business account, according to the Reading Eagle.

The newspaper reported that a man wearing medical scrubs entered Diamond Credit Union’s Spring Township branch on May 20 and attempted to deposit the Treasury check into an account purportedly belonging to Banyan Community Health Center, a Florida nonprofit healthcare provider. Credit union employees became suspicious because of the size of the check and the fact the account had been opened only days earlier.

Investigators later determined the Treasury check was legitimate but had apparently been stolen before reaching its intended recipient. Authorities said the individual used false identification and claimed to be the nonprofit’s chief financial officer. A subsequent review found the account had been opened May 8 using fraudulent information, including an address that investigators determined had no connection to the organization.