Vicki Lynn Weidenhof, the former COO of the $38 million ALPS FCU in Sitka, Alaska, has been banned by the NCUA from participating in the affairs of a federally insured financial institution after she pleaded guilty to a felony charge of “thrift and credit union theft, embezzlement and misapplication by a credit union officer.'
The agency announced the decision Thursday. Violating prohibition orders is a felony offense and punishable by imprisonment and a fine of up to $1 million.
Weidenhof was also sentenced to two years in jail followed by five years of supervised release. She was also ordered to pay $187,348 in restitution.
According to a news release from the U.S. Attorney's office in Anchorage, Weidenhof took money from the credit union and deposited it in her account and the accounts of several other people.
ALPS FCU had been involved in controversy before, when the credit union's board fired a popular CEO and then itself resisted efforts to change how it operates.
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