More than five years after New London Security Federal Credit Union was liquidated, yet another delay could stall payments that some members claim are still due to them.
The $779 million Charter Oak FCU in Groton, Conn., will grow by 600 members with June 30 merger.
Bank veteran joins Connecticut credit union to bolster business lending operation.
Merger would give $763 million Charter Oak its 13th branch in London and Windham counties.
Ten organizations will be able to do more to help their Connecticut community thanks to grants from Charter Oak FCU.
One credit union was recently named Utah’s top lender for 2011 by the SBA and two others are turning to the agency’s loans to help more small businesses.
For the second time in nearly as many months, another lawsuit tied to the collapse of New London Security Federal Credit Union has been dismissed.
Pay out of $100 each to more than 2,700 members by Connecticut CU.
The five members who are suing the NCUA for what they claim was negligence on the agency's part in the collapse two years ago of New London Security Federal Credit Union will have to wait to recover any monetary damages.
As the liquidating agent, the NCUA said by law, it is the party, not members or others, to pursue actions first to recover monetary losses that followed the failure of New London Security Federal Credit Union.