An Ohio church has alleged the NCUA staff committed fraud when they did not allow it to withdraw its funds from the failing St. Paul Croatian Federal Credit Union before the credit union was placed into conservatorship.
The credit union was placed into conservatorship in April 2010 and numerous lawsuits and criminal indictments have followed in its wake. The collapse cost the NCUSIF $170 million.
The church, Holy Love Ministry, of North Ridgeville, Ohio, has sued the agency as agent for the St. Paul liquidation in an attempt to recover the balance of the more than $1.5 million that the church said it had in two joint accounts prior to the liquidation. The church's most recent motion seeks to force the NCUA to provide the documents and depositions that the church said will help it prove its allegations.
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