EAST BOSTON, Mass. – A former loan officer with First Priority CU was charged this week with approving $530,000 worth of loans she credited to accounts she controlled.
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Kelly Curley, who served as director of lending and operations for the credit union-turned-bank from 2002 to 2008, created five phony loans and credited them to family members, then transferred the funds to her own accounts.
Curly told authorities her family members had no idea she was using their names to obtain the loans.
The day the scheme was discovered at the credit union, Curly confessed to the credit union president. But then she went to TD Banknorth, where some $35,000 of the funds were deposited and secured the funds, rather than returning them.
