A former president/CEO of a Washington credit union who allegedly stole more than $350,000 and burned bank documents during an NCUA examination will be arraigned in a county court on July 31 for theft and arson, according to police and prosecutors.

Krista Stephanie Putnam, former president/CEO of the $3.3 million Grays Harbor Woodworkers Federal Credit Union in Aberdeen, was charged with two counts of first-degree theft and one count of second-degree arson, Katherine L. Svoboda, prosecuting attorney for Grays Harbor County, said.  Putnam, 38, was arrested by Aberdeen Police on Monday.

An audit conducted by Washington certified public accountants, Aiken & Sanders, found Putnam allegedly stole more than $350,000, according to an Aberdeen police investigator’s report obtained by the CU Times.

At 8:30 a.m. on March 29, 2016, NCUA examiner Michael Fetter and Michael J. Dyer, an NCUA associate regional director for programs, arrived at the GHWFCU. After they knocked on the credit union’s front door, which was locked, Putnam came from the back of the building and told Fetter and Dyer there was a fire in the credit union.

 

continue reading »