The former president and CEO of Waterbury-based Skyline Financial Federal Credit Union has pleaded guilty to embezzling more than $250,000 from the credit union.

Tara Kewalis, 50, of Beacon Falls, waived her right to be indicted and pleaded guilty yesterday in New Haven federal court to one count of embezzlement by a credit union officer or employee, the U.S. attorney’s office said in a statement.

According to court documents and statements made in court, Kewalis used her position to access the credit union’s accounting system to create fraudulent accounts and make fraudulent entries. The scheme lasted from approximately September 2016 until March 2021, when Kewalis’ employment was terminated. She stole $254,532 in credit union funds, the statement said.

Sentencing has been scheduled for March 1, and Kewalis was released on a $50,000 bond pending sentencing. A LinkedIn profile for Tara Kewalis indicates she had joined Skyline Financial FCU in 1993.

Skyline Financial FCU has about $38 million in assets and 4,400 members. The credit union recently converted from an employer-sponsored to a community-based credit union, with a field of membership that includes New Haven and Litchfield counties. Skyline Financial FCU is now led by James Higgins.