Christine Darley, former president/CEO of a merged Nebraskacredit union, will be sentenced in December after she pleadedguilty to a felony count of bank fraud Thursday in U.S. DistrictCourt in Lincoln.

In exchange for her guilty plea, prosecutors dropped five bankfraud charges.

Darley admitted in court that she improperlyobtained an $180,000 loan from the $3 million PanhandleCooperative Federal Credit Union in Scottsbluff.

When Darley was indicted in February, federal prosecutors saidshe allegedly embezzled more than $535,000.

However, Assistant U.S. Attorney Steven A. Russell said duringcourt proceedings Thursday that the “amount of loss and restitutionis a contested issue.” Although court documents show she allegedlyembezzled more than $535,000, the loss to the credit union was morethan $200,000.

“If (an) order is entered, it is specified in the plea agreementthat the defendant may be ordered to pay restitutions to PanhandleFederal Credit Union or its successor, Meridian Trust FederalCredit Union and/or the CUNA Mutual Group,” Russell said.

From August 2010 to June 2012, Darley withdrew funds anddeposited the money into personal accounts she controlled at thecredit union or at First State Bank, also based in Scottsbluff.

She also falsified documents to conceal her theft from the boardof directors. The former CEO used the funds for her own benefit aswell as for her family and friends.

After determining PCFCU's poor financial condition, the NCUAapproved the credit union's consolidation last year with the $355million MeridianTrust Credit Union in Cheyenne, Wyo.