FRESNO, Calif. A federal court yesterday granted CUMIS Insurance Society a default judgment of $182,900 against a former teller at Educational Employees CU who stole credit union funds by approving 56 signature loans to family and friends.
Elizabeth Gonzalez convinced members to lend her the money she approved for loans and convinced them she would repay the loans, according to a civil suit filed by the credit union insurer in U.S. District Court for the Eastern District of California. “For many of the loans, Gonzalez took advances and received cash disbursements from members’ existing loans without the knowledge of the borrowers,” claims CUMIS in the suit. On at least six occasions, Gonzalez forged a member’s signature on loan documents and share withdrawals, according to the suit.
CUMIS, a unit of CUNA Mutual Group, paid the credit union the $182,900 loss, after a $10,000 deductible, and is trying to recover the payment from Gonzalez.
Gonzalez would inform friends and family that they were pre-approved for a loan, and then ask them if she could borrow that identical amount of money; in return, she promised she would repay both the personal loan and the member's existing, legitimate loan with the credit union.
The credit union fired Gonzalez on September 23, 2010, following its discovery that she had falsified documents and approved loans to family members.
