LOVES PARK, Ill. – The former cards services coordinator at Rock Valley FCU pleaded guilty in federal court yesterday to stealing $1.1 million from the credit union over the past 15 years by manipulating the credit card balances of member accounts.
Lisa Farel, 40, worked for the $77 million credit union until she resigned in July. She stole the money by overstating credit-card balances and pocketing the difference. A credit union official said it was as if the loan portfolio was overstated by $1.1 million.
The credit union said no member lost any money because of the scheme and they will seek reimbursement from their insurer.
Farel has already paid back the credit union $54,000 by cashing in her retirement account. The rest of the money has been spent.
She is scheduled for sentencing in February.
