Search
 

N.H. Credit Union Acts as Members' Guardian Angel, Filing $4.2M Lawsuit

BERLIN, N.H. -- Claiming that a bank employee may have taken $4.2 million in certificates of deposits from its members, Guardian Angel Credit Union has filed a class action suit to recover the money plus accrued interest.

By Michelle A. Samaad | Updated on July 22, 2008

BERLIN, N.H. — Claiming that a bank employee may have taken $4.2 million in certificates of deposits from its members, Guardian Angel Credit Union has filed a class action suit to recover the money plus accrued interest.

According to a July 1 complaint filed with the U.S. District Court in New Hampshire, the $40 million Guardian Angel deposited $99,000 with MetaBank on April 15, 2005. On April 17, 2006 and again in April 2007, the credit union renewed the CD with the bank. On Jan. 25, 2008, MetaBank sent a letter to Guardian Angel 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”

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.