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Georgia police arrested a credit union vice president and regional manager for allegedly stealing money from at least 22 members.
Gregory Ryan Edge, 41, of Williamson, Ga., was charged Tuesday with six felony counts of theft by deception, according to the Georgia Bureau of Investigation.
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In March, the $462 million Southern Credit Union in Fayetteville contacted local police to report suspicious activity involving some loans.
Initially, investigators identified Edge as a suspect who allegedly stole funds from five members during various loan activities. But as the investigation continued, police determined Edge allegedly stole money from at least 22 members and that he pilfered funds from some of these members many times from 2014 to 2019, according to police.
"Most of the alleged thefts occurred as a part of refinance loans where Edge would create a payoff check that contained more money than required to close the old loan," police said in a prepared statement. "Edge would then take that check to a bank teller, then essentially 'make change' with the excess amount and keep that excess amount for himself."
Edge allegedly told some members that this "excess amount" was a credit union loan fee, though he never told other members what the "excess amount" was for until they later discovered the discrepancies, police said.
Edge, who worked at the credit union for about seven years, allegedly stole more than $35,000 from members.
Police said the investigation is ongoing and will be turned over to a district attorney for prosecution.
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