Two employees of the OTS Employees Federal Credit Union (OTSEFCU) pleaded guilty to embezzlement in federal court Tuesday.
Jenny Nishida, 41, a former teller, stole $358,685 from the credit union. She will be sentenced in September.
Nicole Cheung, 34, a former loan officer, stole $16,732 from the credit union. She will be sentenced in August.
Both face a statutory maximum penalty of 30 years in federal prison. They have been released on bond awaiting sentencing.
Their arrests came after a seven-month investigation by the Honolulu Federal Bureau of Investigation.
The OTS Employees Federal Credit Union is the federally-insured financial institution associated with TheBus in Honolulu and provides banking services to employees.
The credit union’s CEO/manager, Gloria Omandam, said in a statement that no member suffered a loss due to embezzlement, and any loss suffered by the Credit Union has been recouped, other than investigative costs.