Following a rash of internal fraud at small credit unions across the country, thelatest victims appear to be two cooperatives that serve lawenforcement officers.

At the $5.2 million New Haven Police and Municipal FCU, a formerteller was arrested Sept. 16, according to a press release issuedby the Chief State's Attorney's Office.

Susan Holm, age 40, of Milford, Conn., was accused of stealingmore $35,000 from nine member accounts from 2012 to 2013, the pressrelease said.

John Loffredo, CEO of the New Haven, Conn.-based cooperative,told CU Times that the credit union notified its 820members after a forensic audit pinpointed irregularities. Hedeclined to comment about the specifics of the crime.

The credit union has implemented changes to better deterand detect employee dishonesty, Loffredo said.

“We certainly have taken steps to prevent this type of incidentfrom happening again,” he added.

Prior to her arrest, Holm was charged with one count each oflarceny and computer crime in the first degree, felonies that carrya maximum prison sentence of 20 years on each count, the releasesaid.

She posted a $35,000 surety bond and is scheduled forarraignment Sept. 25 in New Haven Superior Court.

Meanwhile, the FBI is investigating a former employee ofPortland Maine Police Department FCU for allegedly stealing funds,according to a press release issued by 900-member cooperative basedin Portland, Maine.

An internal audit confirmed that an employee had misappropriatedcredit union funds, the release said.

“Once suspicious activity was discovered, the credit union movedswiftly to engage a forensic accounting firm, legal counsel andother professionals to investigate,” Hosea Carpenter, president/CEOof the Portland Maine Police Department FCU, stated in the pressrelease. “We have referred this matter to law enforcement agenciesand we expect this individual to be prosecuted to the fullestextent of the law.”

The credit union fired the employee immediately, contacted theFBI and the U.S. Attorney's Office, and notified members by sendinga letter, the release said.

Portland Maine Police Department FCU did not specify how muchmoney was allegedly stolen or the former employee's job title.

“No members have lost money as a result of this formeremployee's actions, as all accounts are fully-insured,” therelease said. “Our first concern and priority is out members and,while we are deeply disappointed in the actions of this formeremployee, we are confident our members understand that the acts ofthis individual are not reflective of the other dedicated sataffand officials at our credit union.”

Both credit unions said they sent letters to members to advisethem about the investigation.

Portland Maine Police Department FCU's letter to members, datedSept. 11, stated that the theft was the first embezzlement in thecredit union's history.

“Finally, let me assure each of you that the staff and I willcontinue to work diligently to prevent any similar occurrence inthe future,” the letter said. “Our expectation is that this formeremployee will be held responsible for his actions and the creditunion shall continue in its mission to serve you.”