SPRINGFIELD, Ore. — A former Peak Credit Union employee has pleaded guilty to multiple felony charges in connection with the theft of more than $230,000 from accounts belonging to deceased members, marking the second case reported this week involving a credit union employee accused of stealing money from the accounts of people who had died.
Teresa Margiotta, 51, of Springfield, pleaded guilty Oct. 8 to three counts of aggravated identity theft and two counts of first-degree aggravated theft, according to Lane County Circuit Court records cited by the Eugene Register-Guard.
Margiotta, who worked for the credit union for nearly 20 years, was accused of embezzling at least $230,000 from accounts belonging to 20 deceased individuals.
She had originally been charged with four counts each of aggravated identity theft and first-degree aggravated theft following her arraignment in January.
According to the Register-Guard, Margiotta had been scheduled to stand trial Oct. 14, but her guilty plea resulted in a sentencing hearing being scheduled for Oct. 28.
Second Such Case Reported This Week
The guilty plea follows a report published Oct. 13 by The CU Daily involving a former employee of IH Mississippi Valley Credit Union in Iowa who was arrested and accused of stealing more than $28,000 from seven accounts, six of which belonged to deceased members.
In that case, Amanda N. Tincher, 38, of Davenport, Iowa, faces multiple felony and misdemeanor charges after investigators alleged she made unauthorized withdrawals, issued cashier’s checks to herself and transferred money into her personal Cash App account.
According to The CU Daily’s report, which cited KWQC and court documents, the investigation began after the credit union discovered suspicious transactions involving a deceased member’s account.
Authorities alleged Tincher stole $28,326.28 across seven accounts, including one belonging to a living member. She was also accused of transferring money between accounts to conceal an earlier theft after beneficiaries discovered funds were missing.
Unlike Margiotta, who has pleaded guilty, Tincher was facing criminal allegations at the time of the Oct. 13 report.
The two cases involve separate credit unions in different states, and there is no indication they are connected.
How the Theft Occurred
According to a December 2025 administrative enforcement order issued by the National Credit Union Administration, Margiotta worked for Northwest Community Credit Union, which subsequently became part of Peak Credit Union, from December 2005 until July 2025.
She began as a teller and eventually became a senior support services specialist.
The NCUA alleged that between at least August 2023 and February 2025, Margiotta carried out a scheme involving dormant member accounts.
According to the agency, her activities included:
- Fraudulently issuing checks from dormant member accounts.
- Voiding the checks after they had been issued.
- Reissuing checks for her own purposes.
- Using the transactions to obtain funds for her personal financial benefit.
An examination of the credit union’s records determined the activities caused losses exceeding $230,000, the NCUA said.
The agency concluded that Margiotta’s alleged conduct breached her fiduciary duties, constituted unsafe or unsound practices and demonstrated personal dishonesty or unfitness to participate in credit union affairs.
The NCUA’s administrative findings were issued before her criminal guilty plea, and Margiotta neither admitted nor denied wrongdoing when consenting to the regulatory order.
Credit Union Reported Suspected Theft to Police
According to the Register-Guard, Eugene police received a report from Peak Credit Union on Sept. 5, 2025, concerning a former employee suspected of accessing deceased members’ accounts and diverting money for personal use.
The police investigation ultimately resulted in the criminal charges filed against Margiotta.
Peak Credit Union was formed through the combination of Northwest Community Credit Union and TwinStar Credit Union. The institution serves more than 250,000 members through 35 branches in Oregon and Washington, according to the credit union and the Register-Guard.
NCUA Had Already Issued Prohibition Order
The criminal case follows separate regulatory action by the NCUA.
In December 2025, the agency issued a consent prohibition order against Margiotta, identified as NCUA Docket No. 25-0061-WR.
The order bars her from participating in the affairs of federally insured financial institutions without the required regulatory approval.
According to the NCUA, Margiotta consented to the order to resolve the agency’s administrative claims without admitting or denying its findings.
The regulatory action is separate from the criminal prosecution in Oregon, where Margiotta has now entered guilty pleas.
Her sentencing is scheduled for Oct. 28.
