A former office manager will be sentenced in July afteradmitting she stole $34,000 in cash from the vault of a failedLouisiana credit union.

Gail Teague, who worked at the $9.2 million Ochsner ClinicFederal Credit Union in New Orleans, pleaded guilty to theft ofbank funds in U.S. District Court in New Orleans.

According to court documents, Teague agreed to testify theagainst former credit union President Jacqueline Ray, who allegedlystole more than $1 million.

“The government's proof would be presented by agents of the FBIand NCUA and auditors and employees of the credit union,” courtdocuments read.

On June 28, 2013, the NCUA liquidated the $9.25million OchsnerClinic FCU of New Orleans, saying in a release it haddetermined the credit union was insolvent and had no prospect forrestoring viable operations. The $307 million ASI Federal CreditUnion of Harahan, La., immediately assumed Ochsner Clinic FCU'smembers, deposits and loans.

Court documents reveal that during the course of an NCUA audit,Teague admitted to stealing $34,000 by creating a fraudulentloan.

On May 17, 2013, more than a month before NCUA announced OchsnerClinic FCU's liquidation, Teague signed a hand-written confessionacknowledging the theft after auditors interviewed her.

In January 2013, Teague created a fictitious loan in anotherperson's name. The loan was disbursed in the form of an officialcredit union check made payable to a local auto dealership. Thedealership was not identified by federal prosecutors.

After the check was re-deposited into the credit union, Teaguewithdrew $34,000 in cash from the vault, according to courtdocuments.

Teague's sentencing hearing is scheduled for July 15.