Former Credit Union Manager Faces Fraud Charges
South Carolina federal prosecutors on Tuesday charged a former credit union manager, Yvondia M. Susan Young, with bank fraud, alleging she stole more than $325,000.
Young was manager of card services for the $485 million Heritage Trust Federal Credit Union in Summerville, S.C., where she allegedly issued official HTFCU checks to pay for her personal credit card bills, according to court documents filed in U.S. District Court in Charleston.
The fraudulent scheme occurred from August 2007 to February 2013, federal prosecutors charged in court papers. Prosecutors did not say how Young allegedly managed to conceal the fraud for more than five years.
“The credit union acted quickly to address this issue with law enforcement,” Jim McDaniel, president/CEO HTFCU said in a prepared statement. “Since we opened in 1955, protecting our members’ funds and the safety and soundness of the credit union are always our top priorities.”
McDaniel also said members’ personal accounts and funds are safe and were unaffected by this alleged embezzlement.
“The credit union will continue with our commitment to heavily monitor all potential fraudulent activity, adhere to high regulatory standards and hold individuals accountable to the fullest extent,” McDaniel added.
Young’s attorney, Lionel S. Lofton in Charleston, did not return a phone and email message seeking comment.