ODESSA, Texas – For the second time, a credit union which tried to convert to a bank and failed appears willing to use the legal process to punish members who opposed the conversion attempt.

The $115 million First Basin Credit Union has obtained a court order allowing it to depose three of the members who opposed the conversion on the grounds that they “may have” slandered the credit union's leadership in their opposition.

“Letty Ayala-Moreno, Carol Uranga and Sylvia Acosta signed a letter which was mailed to First Basin's members. The letter and other communications contained false, defamatory and disparaging information about the credit union and its officers and directors,” noted Shem Culpepper, First Basin's CEO in prepared release about the move. “In our view, the letter, a website and other activities may have created a cause for slander. We want to ensure fair and balanced information is being provided to our members. It hasn't been, so we launched an investigation.”

But Moreno countered that she and the others are not worried about the deposition. “All we have done is tell the truth,” she said and she speculated that the move might be “scare tactic” from the CU which has still not set a date for its annual meeting at which time members could replace three of the board members.