Guardian Angel CU Sues Bank Claiming $4.5 Million CD Loss

BERLIN, N.H. — Guardian Angel Credit Union has filed a class action suit to recover $4.5 million from MetaBank over claims that a bank employee took their certificates of deposit.

According to a July 1 complaint filed with the United States District Court for the District of New Hampshire, $40 million Guardian Angel CU deposited $99,000 with MetaBank on April 15, 2005. On April 17, 2006 and again in April 2007, the CU renewed the CD with the bank. On Jan. 25, 2008, MetaBank sent a letter to the CU stating that it had “recently become aware of unauthorized certificates of deposit issued under its logo and brand name.” The suit said Meta Bank employee Charlene M. Pickhinke had “absconded with the [CU CD] deposit”