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.
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