News and Press Releases


June 9, 2011

The former financial operations officer for Catholic and Communities Credit Union (CCCU) was convicted in US District Court on June 9, 2011, for embezzling more than $38,000, the United States Attorney for the Southern District of Illinois, Stephen R. Wigginton, announced today. Stacy A. Mergelkamp, age 33, pled guilty to a one-count Information charging her with the offense of Theft, Embezzlement, or Misapplication by a Credit Union Officer or Employee.

Mergelkamp pled guilty to devising a scheme that began in December, 2008, and continued through August, 2009. Mergelkamp admitted that she completed a series of cash advances against her personal credit card accounts, and the credit card accounts of certain relatives; however, she fraudulently altered the CCCU cash advance slips so that the credit union would deposit more money into her accounts than she actually withdrew from the credit cards. Over a nine month period of time, Mergelkamp caused CCCU to overpay approximately $38,120 more for cash advances than was actually withdrawn and reimbursed by the issuing credit cards.

As the financial operations officer, Mergelkamp was responsible for accounting duties within the credit union such as balancing the general ledger, supervising tellers, managing the overdraft privilege program, and counting and verifying the tellers’ drawers.

The crime of Theft, Embezzlement, or Misapplication by a Credit Union Officer or Employee is punishable by not more than 30 years’ imprisonment, a $1,000,000 fine, and not more than 5 years’ supervised release upon release from prison. However, the United States Sentencing Guidelines must be applied to the case and considered by the Court during sentencing. Sentencing has been scheduled for September 16, 2011, in US District Court.

The investigation was conducted by the Federal Bureau of Investigation. The case is being prosecuted by Assistant United States Attorney Steven D. Weinhoeft.



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