(Spencer)– A Spencer woman is accused of stealing funds from the Eaton Employees Credit Union.
52-year-old Linda Lee Zech has been charged with first degree theft…a class “C” felony…and ongoing criminal conduct…a class “B” felony.
The Clay County Sheriff’s Office says the charges stem from a joint investigation involving the Division of Criminal Investigation and the Clay County Attorney’s Office.
Authorities say the investigation was launched after an internal audit turned up a discrepancy.
Zech, who worked for Eaton Employees Credit Union, is accused of misappropriating funds and assets in excess of 10-thousand dollars. Authorities say the alleged incidents took place numerous times over the last three years. They say the investigation continues and additional charges are pending.
As required by law the credit union is fully insured and no member is expected to have any financial loss.
In a news release, David Olson, Board President of Eaton Employees Credit Union, says their members are being notified of the finding and are being assurred that all funds are safe, secure and fully protected.
Eaton Employee Credit Union is not owned or operated by Eaton Corporation. It is a completely separate entity with 878 account members and about 3.3 million dollars in assets.
