Former Operations And Marketing Director At Lifeway Credit Union Sentenced To Federal Prison
For Immediate Release
U.S. Attorney's Office, Middle District of Tennessee
Over $242,000 Embezzled from Credit Union
NASHVILLE - The former Operations and Marketing Director of Lifeway Credit Union in Nashville was sentenced today to 27 months in federal prison, announced U.S. Attorney Henry C. Leventis for the Middle District of Tennessee.
Monica Jackson, 43, of Murfreesboro, Tennessee, was charged in October 2021 with embezzling over $242,000 from Lifeway Credit Union. Jackson was part of the management team and oversaw the credit union’s operating activities, including lending decisions and the decision to order cash. She also had access to Lifeway Credit Union’s cash vault.
Between October 2016 and February 2021, Jackson embezzled approximately $242,156 from the credit union using a variety of methods, including by stealing cash out of the vault. Jackson also opened lines of credit in the names of family members and then transferred funds to accounts she controlled.
Jackson also made fraudulent transfers totaling $27,435 to herself from the account of a deceased credit union member. She used her administrative authority to lock access to the accounts she was using to commit the fraud so that other bank employees could not see those accounts.
Jackson was ordered to pay restitution in the amount of $242,156.00 which represents the proceeds of the crime.
This case was investigated by the Federal Bureau of Investigation. Assistant U.S. Attorney Kathryn W. Booth prosecuted the case.
# # # # #
Public Affairs Officer
Updated January 20, 2023