Prosecutors say Norma Gold worked at the Olean Tile Federal Credit Union for 26 years and, for most of that time, was its only employee.
They also believe she stole about $250,000 over a five-year period.
Gold, who appeared Wednesday before U.S. Magistrate Judge Michael J. Roemer, is charged with making false federal credit union entries.
At the crux of the case is the allegation that Gold used several schemes to embezzle from the small Olean-based credit union, including stealing cash, using credit union money orders to pay for personal expenses and creating false deposits in her own credit union accounts.
The charges against Gold are the result of an investigation by the FBI and a prosecution by Assistant U. S. Attorney Marie Grisanti.