Credit/Shuttersock.
After years of wrangling and recent legal fights with the NCUA, more than 80 credit unions in Iowa and North Dakota will finally be paid more than $15 million in recovered assets from federal corporate credit unions that were dissolved following the 2007-2008 financial crisis.
In a statement released Thursday, the Dakota Credit Union Association said the NCUA agreed to settle the dispute after a judge denied the federal agency's motion to dismiss the lawsuit filed by North Dakota credit unions in April 2023 in U.S. District Court in Kansas. By Jan. 18, the NCUA plans to return $11,996,023 that will be paid to the 25 North Dakota credit unions that invested in Midwest Corporate Federal Credit Union.
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