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A former IT manager for the $1.8 billion DuPont Community Credit Union in Waynesboro, Va., wrote malicious code that regularly diverted small amounts, $3 to $5, of foreign ATM fees to his DCCU account, according to authorities.
From July 2019 to June 2022, Zachary Post Bandy, 39, of Waynesboro stole $22,075.
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After he pleaded guilty to four of six felony counts of embezzlement, Bandy received a suspended five-year prison sentence on Friday. He must serve three years of supervised probation and two years of probation, according to Waynesburg Circuit Court records.
Bandy, who was an architecture and development manager for DCCU's IT department, has repaid the stolen credit union's funds, authorities said. He joined the credit union in 2015 as a systems architect, according to his LinkedIn Profile page.
"For DuPont Community Credit Union, when you use a foreign ATM, you can get that [the fees] refunded to your account up to 10 times a year," Waynesboro Police Sergeant C.J. Cross said. "He had gotten into that program somehow and wrote it so that it actually deposited money into his account. It just added up to a lot of money over the years."
Waynesboro Commonwealth's Attorney David Ledbetter said Bandy was involved in the development of the algorithm that refunded foreign ATM fees to members, but he noted that Bandy did not divert funds from members' accounts.
After Bandy's embezzlement was detected during a DCCU audit, he was arrested and charged in January, according to court records.
Bandy's attorney and DCCU did not return CU Times' requests for comment on Monday.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
