The former manager of United Catholic Credit Union in Temperance has been banned from working in the credit union industry after an Office of Financial and Insurance Regulation investigation found that she misappropriated funds, filed false financial statements, and failed to comply with state and federal laws.
Shannon Broadway, 61, of Toledo, pleaded not guilty in Monroe County’s First District Court last month to one count each of financial institution embezzlement and racketeering. She is to appear Friday in 38th Circuit Court. If convicted, she faces up to 20 years in prison for each charge.
Ms. Broadway is charged with embezzling approximately $2.1 million from the credit union. Regulators closed the credit union in August.