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Former Credit Union CEO Embezzled $2 Million, Federal Prosecutors Allege

Stacey Shaw used IBEW Local Union 712 FCU credit cards to rack up cash advances and charges, court documents reveal.

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Starting in May 2017, five months after she became president/CEO of a Pennsylvania credit union, Stacey Shaw opened credit cards issued by IBEW Local Union 712 FCU and allegedly made more than $2 million in charges and cash advances through March 2020, according to federal prosecutors.

Court documents filed by prosecutors in U.S. District Court in Pittsburgh on Monday charge Shaw with one felony count of embezzlement from a federal credit union and two felony counts of failing to file federal income tax returns.

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