A former Saginaw area credit union CEO has pleaded guilty to embezzling more than $710,000 during his tenure.
Stanley Hayes, 45, pleaded guilty to all counts against him before Circuit Judge Andre R. Borrello.
The charges against Hayes came nearly a year after the Valley State Credit Union was declared in “unsafe and unsound condition” and placed into a conservatorship by state officials.
Hayes was CEO of Valley State Credit Union from 2005 until he was fired in 2016.