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DFCU Says It Is Disappointed in Case Outcome

DEARBORN, Mich. -- The $1.8 billion DFCU Federal Credit Union has said it is disappointed with Michigan Judge Cynthia Stephens decision for some of its members and against the CU in a long running legal dispute.

By David Morrison | Updated on March 19, 2008

DEARBORN, Mich. — The $1.8 billion DFCU Federal Credit Union has said it is disappointed with Michigan Judge Cynthia Stephens decision for some of its members and against the CU in a long running legal dispute.

Three members sued the credit union in 2006, seeking to force it to hold a special meeting at which some or all of the board members who had supported a conversion attempt to a mutual bank charter could be recalled. They also sought to force the CU to let them examine records related to the conversion attempt and the money spent on it. The court’s decision agreed with the members on both these points.

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