Former teller Teresa Ann Perkins admitted earlier this week that she embezzled $320,000 from members for nearly 11 years at the $23 Community United Federal Credit Union.
She was indicted in June, two months after the NCUA placed the Waycross, Ga.-based credit union into conservatorship in April. On July 31, Community United FCU was merged into the $149 million United 1st Federal Credit Union in Kingsland, Ga. at no cost to the share insurance fund, said NCUA Public Affairs Specialist John Fairbanks.
Community United FCU posted a net loss of $1.5 million and a net worth of 3.5% at the end of the second quarter, according to its NCUA financial performance reports.
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