§ 14755 Credit Union Fraud Penalties

Financial Code·California

AI SummaryVerified

It is a crime for credit union workers to take or hide the credit union's money or property on purpose and not record it properly.

Key Takeaways

•Taking credit union property without paying for it is illegal.
•Failing to record that property in the books is also illegal.
•Doing this on purpose makes it a felony.

Example

A credit union manager takes cash from the vault and does not write it down in the books.

Because he knowingly took the money without a valid reason and failed to record it, he is breaking the law and can be charged with a felony.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 14755 Credit Union Fraud Penalties

Any director, officer, agent, or employee of any credit union who knowingly receives or possesses the credit union’s property otherwise than in payment of a just demand with intent to defraud, omits to make or omits to cause to be made a full and true entry thereof in the credit union’s books and accounts, or concurs in omitting to make any material entry thereof, is guilty of a felony. (Added by Stats. 1986, Ch. 673, Sec. 4.)

Last verified: January 11, 2026

Key Terms

credit union intent to defraud felony full and true entry

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 14755.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References