A loan participation suit filed two years ago against the defunct Eastern Financial Florida Credit Union to recoup millions in losses will not include Space Coast Credit Union, a federal court recently ruled.
Federal court says not enough merit to proceed in case over participation loan losses.
In a case that has ties to one of the industry’s largest mortgage scams, Sperry Associates Federal Credit Union received a ruling in its favor over losses the financial institution said it suffered behind the scheme.
Federal court in New Jersey had ruled in favor of credit union in suit over fraud loss coverage.
New Jersey case involved a CUMIS fidelity bond and whether fraud committed by two mortgage companies impacted coverage.
Sperry Federal Credit Union marked its 75th Anniversary recently when long-term members gathered at its main branch in Garden City Park, N.Y., to commemorate the milestone.
Sperry Associates Federal Credit Union has named James Duffett its new president/CEO.
Nearly eight months after the NCUA and Sperry Associates Federal Credit Union entered into a letter of understanding and agreement, the cooperative has named James Duffett as its new president/CEO.
One of the ways Sperry Associates Federal Credit Union is planning to get back on track is by beefing up its electronic marketing efforts.
Besides not renewing the contract of its interim president, Sperry Associates Federal Credit Union said it has made several more moves to get the cooperative back on track.