A former credit union president and league chapter treasurer whofaced up to 30 years in prison and a $1 million fine for bank fraudwas sentenced Oct. 21 to one day in prison and a $4,000 fine,according to court documents filed in U.S. District Court in St.Louis.

Paul C. Smith, who served as president of the former Laclede Community Credit Union and treasurer of the IllinoisCredit Union League's George G. Burnett chapter, was also orderedto pay $93,430 in restitution, the documents said.

Smith, 54, was placed on two years of supervised releaseincluding one year with an imposed curfew and locationmonitoring.

Earlier this year, the $67 million, 10,400-member LCCU in Alton,Ill., merged with the $509 million, 45,500-member 1stMidAmerica Credit Union in Bethalto, Ill.

Smith, who worked at LCCU from 2007 to 2012, admitted he used aleague debit card to pay for personal expenses for more than fiveyears, the documents said.

Smith's crimes were first discovered by a whistleblower, according to the U.S. Attorney's Office.

After receiving a tip from a whistleblower, investigatorsconfirmed Smith used the card for almost $60,000 in fraudulentpurchases and ATM withdrawals, court documents said.

He manipulated 140 transactions so that the expenditures werediverted away from the trade association's account and into LCCU'sunposted items, according to court documents.

To recover its losses, LCCU submitted a claim for reimbursementfrom its insurance carrier for $58,286.85 and $24,650 for auditingservices, court documents showed.