MOSS POINT, Miss.–Two former credit union executives have been convicted for theft and embezzlement.
At Singing River FCU, a former vice president has plead guilty to stealing more than $350,000 from the credit union.
According to the U.S. Attorney’s office, Merrideth Christina McMillian plead guilty to charges she "willfully misapplied, embezzled, abstracted, and purloined the sum of more than $350,000 of moneys, funds, and credits." McMillian had been employed by SRFCU as vice president of member services at the time of the theft.
According to the charges, McMillian unlawfully accessed member accounts, manipulated transactions and loans, and then converted the money for her use and the use of others.
“None of our members’ money was taken, and none of our members’ money was ever at risk of ever being taken,” SRFCU President and CEO Jimmy Smith told WLOX.
Sentencing has not yet been set.
The $213-million Singing River FCU has approximately 28,000 members.
Separately, in Charlotte, N.C., Saundra Torrence, the former CEO of the $33-million First Legacy Community CU, has been sentenced to six months in prison. Torrence had faced 33 felony counts that included embezzlement and fraud, before she pleaded guilty to one charge. Torrence had been charged with stealing more than $375,000 by creating bogus loans.