NCUA official seal. (Source: NCUA)
Bethann Kraenzlein, a former teller for the $494 million Northland Area Federal Credit Union, was banned by the NCUA Monday for embezzlement.
She was originally charged with 19 counts of embezzlement in February 2019. She pleaded guilty to one embezzlement count in May, admitting to stealing more than $10,000 from member accounts at the Oscoda, Mich.,-based credit union, according to court records and media reports.
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Surveillance video reportedly showed the former teller dispensed cash from a cash recycler, put the money into a drive-thru envelope and slipped it into her purse.
"An investigation by credit union officials allegedly showed that from between April 18 through Oct. 12, Kraenzlein allegedly withdrew amounts between $300 to $2,000 from 10 different members," the Oscoda Press newspaper reported.
A Michigan court judge sentenced Kraenzlein to three months in jail and a term of probation. She also was ordered to pay restitution.
The NCUA ban prohibited Kraenzlein from ever participating in the affairs of any federally insured financial institution.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
