Credit Union manager, husband arrested for theft of $90,000

Storm Lake Police have arrested the branch manager of Citizen's Credit Union and allege that Debra Lullman has stolen approximately $90,000 from the institution over the past few years.

Officers were alerted to a possible theft at the credit union on August 19. Officials of the credit union said that a check for $30,000 had been negotiated at the business and was sent through for payment after Lullman, 44, coerced employees to handle the check without any holding or verification, contrary to credit union policy.

The check had been issued by the manager's husband, John Stephen Lullman, age 53, of Storm Lake.

Officials of the credit union company were alerted and arrived at the branch band August 19 to investigate the check incident, and at that time discovered further incidents of alleged theft by Debra Lullman.

The banking company issued a statement Tuesday, noting that they are unable to reveal any details of the crimes, since the investigation is ongoing, but that additional information on the situation will be made public later.

"It is important to note that not one penny of our member's money has been lost or affected in any way. The financial strength of the credit union has not been impacted," according to the release, which indicates that the credit union will continue to operate as normal in Storm Lake.

Following the police investigation officers on Monday, August 30, charged Debra Lullman with two counts of Theft 1st Degree; and charged John Lullman with Theft 1st Degree - all felonies. The Lullmans surrendered themselves at 2 p.m. Monday and were booked into the county jail. They were later released on $10,000 appearance bond.