A former credit union employee pleaded guilty to bank fraud inU.S. District Court in Albuquerque, N.M., last week and admitted tousing members' accounts to pay debts and place a down payment on ahouse.

Louisa Gabaldon, 43, who previously worked at the $23 millionBelen Railroad Employees Credit Union in Belen, N.M., admitted tomaking more than $118,000 in withdrawals from members' accountswithout their authorization, according to court documents.

She worked at the credit union from September 2003 to August2010. Though her job title is not specified in court papers,Gabaldon had authorization to approve loans.

She also was allowed to make withdrawals from member's accountsand transfer funds of members' accounts with their permission.

In her plea agreement, Gabaldon admitted that without members'knowledge, she added amounts to their loan accounts and opened newloans in their names.

Gabaldon concealed her fraud by moving funds among customers'accounts to make it appear as if loans had been repaid or fundswere replaced.

As part of her plea deal, she agreed to pay restitution totaling$118,376. Gabaldon faces a maximum penalty of 30 years inprison.

Her sentencing hearing has yet to be scheduled.