NCUA bans former credit union teller for embezzlement

Register now

The National Credit Union Administration on Monday barred one individual from working at any federally insured financial institution.

The regulator's only ban for the month of August was a prohibition notice against Bethann Kraenzlein, a former employee at Northland Area Federal Credit Union in Oscoda, Mich. Kraenzlein, a former teller, embezzled more than $10,000 from the $495 million-asset institution, according to local news reports. In May 2019, she was sentenced to three months in jail and five years of probation, and ordered to pay restitution.

NCUA banned her from working within the industry since the offense involved “dishonesty and breach of trust,” the order said. Violating the prohibition order could result in a fine up to $1 million or a jail sentence up to five years.

So far this year, the regulator has issued almost 30 bans.

For reprint and licensing requests for this article, click here.
Prohibition orders NCUA Embezzling Financial crimes Crime and misconduct Michigan
MORE FROM AMERICAN BANKER