PITTSBURGH – The former manager of now-defunct Lawrence County School Employees FCU was sentenced to 15 months in federal prison and ordered to repay nearly $223,000 she embezzled over a five-year period.

Holly Cowan pleaded guilty to embezzlement and tax evasion charges in April.

Cowan will spend three years on supervised release and also must pay $63,000 to the Internal Revenue Service. The $223,000 must be repaid to CUMIS Insurance Society, the fidelity bond issuer for the one-time $7-million credit union, which was in New Castle.

CUMIS claimed in a separate civil suit that Cowan and Stacy Attisano, who worked for Cowan at the credit union, embezzled about $811,000 by steering money into an account through falsified deposits and loan payments.

Attisano, who was the credit union’s assistant manager, was sued for an additional $51,000 while CUMIS said Cowan owed $74,000 in false credit card payments and $70,000 in lost collateral.

Default judgments in CUMIS’ favor were issued against Cowan in May 2012 and against Attisano in August 2012.

Attisano and Cowan were the credit union’s only employees, according to court documents.

The credit union was liquidated by NCUA in March 2010. Its remnants were acquired by First Choice FCU.

 

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