ROCKVILLE, Md. — The National Center for Member Trust is picking up at least part of the costs of defending William Brooks and his son, William Brooks Jr., from a lawsuit brought by their former employer, Lafayette Federal Credit Union.

Both Brooks acknowledged this under oath during depositions for the credit union's lawyers and Jim Blaine, CEO of the $15 billion State Employees' Credit Union also acknowledged this was true. Blaine is one of the founders of the NCMT.

Blaine said NCMT has been involved in various court cases around the country involving issues surrounding credit union members' rights and said the Center had taken a position on the Lafayette case in the interests of clarifying the procedures credit union leaders need to follow if they want to move their credit unions to bank charters.

“People think this is about Lafayette or Bill Brooks, but that just isn't the case,” Blaine said. “The issues here are what procedures credit union boards which are considering conversion need to take to guarantee their members that they are being completely above board and transparent.”