Woman sent to prison for stealing $1.9M from credit union

Posted at 8:35 AM, Jan 04, 2016
and last updated 2016-01-04 15:34:06-05

NORTON SHORES, Mich. (AP) — A manager who turned a western Michigan credit union into a personal piggy bank has been sentenced to 6 1/2 years in prison.

Over more than a decade, Kathryn Sue Simmerman stole nearly $2 million from Shoreline Federal Credit Union in Norton Shores, near Muskegon. She was fired about a year ago after her crimes were uncovered.

Simmerman told a judge Monday that she knew “it was very wrong.”

The government says “misplaced trust” by others at the credit union contributed to Simmerman’s ability to steal so much money without getting caught earlier. She embezzled $319,000 in 2014.

Simmerman’s lawyers say she regrets her crimes and “feels shame.” Insurance covered 70 percent of the credit union’s loss.