Court dismissed a suit brought in this action against a credit union for discharging its President and CEO. In this case, Nevada Federal Credit Union held a regularly scheduled meeting and voted 5-2 not to renew the employment contract of Robert Street, its then President and CEO. After obtaining legal advice, a second meeting was […]

Credit Union Board Member and Manager Pledged Embezzled Funds as collateral for Credit Union loan.    Rebecca Caldwell was the manager, secretary and treasurer of Avondale Mills Bevelle Employees Federal Credit Union. She also served on the credit union’s Board of Directors. Caldwell took a blank Certificate of Deposit from the credit union and directed […]

Here, the bankruptcy debtor was employed by the First Heritage National Bank. Prior to debtor’s employment at First Heritage, he was employed at an affiliated bank as a loan officer, supervised employees, approved customer checks and generally managed the day-to-day business of the bank. The debtor-employee borrowed money from First Heritage on several occasions.  Although all of […]

In this case, Textron Lycoming Federal Credit Union brought an action alleging the defendant borrowed $6,000 and failed to repay the same. The credit union also produced a promissory Note signed by the borrower-defendant. Defendant purchased disability insurance at the inception of this loan and thereafter became disabled. The insurance company did not honor his […]

An Illinois Court held wage assignment, unlike a garnishment on debtor’s wages, unconditionally vested creditor’s rights. In this case, the debtor sought a return of $546.93 that had been withheld from his wages pursuant to a voluntary wage assignment and paid to Mercury Finance Co. (“creditor”) prior to his filing a Chapter 13 bankruptcy. Here, debtor’s […]

In this case, the credit union brought an action alleging the defendant borrowed $6,000 and failed to repay the same. The credit union also produced a promissory note signed by the defendant (Shaham). Defendant purchased disability insurance at the inception of this loan and thereafter became disabled. The insurance company did not honor his claim […]

Here, a 34 year old credit union loan officer submitted a Workers’ Compensation claim against her employer credit union for post-traumatic stress disorder. The claim was denied and on appeal the credit union prevailed. The Court of Appeals of Oregon found the credit union employee had been exposed to an armed robbery at another credit union […]

In this case, John Heller was a member of the Board of Directors of CACL Federal Credit Union.    CUMIS Insurance Society informed CACL that the bond for Heller had been revoked.   Despite the loss of his bond and inability to find a replacement bond (as required by the NCUA), Heller ran for reelection […]

Creditor retains garnishment funds received within two weeks before debtor filed bankruptcy. Court ruled in this case that date garnishment was “served” on garnishee defendant placed garnished funds outside of 90-day window for Trustee to set aside transfer to creditor. Here, the bankruptcy trustee sought to compel First of America Bank to return garnishment funds received […]

Here, a jury verdict was entered in favor of Barbara Carle (Carle), a former manager of McChord Credit Union, for wrongful discharge based upon age discrimination. The jury awarded the former manager $100,000.00 for age discrimination, another $18,000.00 for negligent infliction of mental distress and more than $47,000.00 in attorney fees. Barbara Carle was a […]