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A former employee who embezzled $14,300 from a Michigan Credit Union has been banned from ever participating in the affairs of any insured financial institution, the NCUA said.
Andrea Alice Nedow, 29, who worked as a teller/member service representative for the $89 million Traverse Catholic Federal Credit Union in Traverse City, was the 18th former credit union employee banned by the federal agency in 2023. In 2022 and 2021, the NCUA banned 13 and 23 former credit union employees, respectively, according to the agency's records.
On Aug. 22, 2022, Traverse Catholic FCU learned that Nedow was making unauthorized withdrawals from member accounts, according to the NCUA's administrative order released on Dec. 29.
Following a police investigation, she was charged with two felony counts of embezzlement. In January 2023, Nedow pleaded guilty to both felony counts, according to legal filings at Michigan's 13th Circuit Court in Suttons Bay.
Circuit Court Judge Charles M. Hamlyn sentenced the former credit union employee to six months imprisonment and 36 months' probation in March and ordered her to pay $14,300 in restitution. Nedow also was ordered to pay $1,366 in court costs, fees and fines, court records showed.
From August to October, three additional court filings also showed that Nedow was ordered to pay an additional $675 to Traverse Catholic FCU.
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