TEMPERANCE, Mich. – The former manager and sole employee of tiny United Catholic CU on Thursday was charged with embezzling $2.1 million from the now-failed credit union, which never claimed more than $500,000 in assets.
State prosecutors say Sharon Broadway, 61, of Toledo, Ohio stole money for more than 20 years through the use of aliases and forged checks. Many certificates of deposit bought by members were not recorded.
The tiny credit union, located near the Ohio border, was declared insolvent and liquidated in August.
The 52-year-old credit union had only 200 members, who were affiliated with Roman Catholic churches in Monroe County.