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Court Rules that FCUs Are Not Immune from Punitive Damages

The California Court of Appeals for the 5th District has ruled that Federal Credit Unions are not immune from paying punitive damages by virtue of their being federally chartered credit unions.

By David Morrison | Updated on August 07, 2007

FRESNO, Calif. — The California Court of Appeals for the 5th District has ruled that Federal Credit Unions are not immune from paying punitive damages by virtue of their being federally chartered credit unions.

The decision stems from a 2003 dispute between the $193 million Tucoemas Federal Credit Union, headquartered in Visalia, Calif., and one of its former employees, Kim McGee.

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