The Dallas Morning News reported that Theresa Portillo, who embezzled $3.4 million from the failed $2 million Women’s Southwest FCU, was sentenced Friday to 6 ½ years in prison after pleading guilty to the crime in January.

The NCUA liquidated the Dallas-based credit union in November. According to the FBI, Portillo sold 18 credit union-owned certificates to other institutions and pocketed the proceeds, using the cash to buy nine properties in the Dallas area, a Mexican time share in Cabo San Lucas, jewelry, vehicles, vacations, and pay bills for herself, family members and friends.


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.