OLEAN, N.Y.–Five years after the closure of a credit union here, its former manager has pleaded guilty to stealing approximately $180,000.
Norma Gold, 57, entered the guilty plea to the theft from Olean Tile Employees FCU, according to the U.S. Attorney's Office in Buffalo. Gold, who joined the credit union in 1986, embezzled funds, made false business entries and altered financial records beginning in December of 2007.
Gold now faces up to 30 years in prison and a $1-million fine, with her sentencing date set for Dec. 21.
NCUA conserved Olean Tile Employees FCU in December of 2012. At the time the CU had $778,000 in assets and 550 members.