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Plaintiffs, including credit unions, are piling on to recover $4 million in stolen certificate of deposit funds in what could become a class-action lawsuit against Iowa-based MetaBank.

According to the July 1, 2008 complaint filed by $40 million Guardian Angel Credit Union, it deposited $99,000 with MetaBank in April 2005. The credit union renewed the CD in April 2006 and again in April 2007. On Jan. 25, 2008, MetaBank sent a letter to Guardian Angel stating that it recently become aware of unauthorized CDs issued under its logo and brand name. The suit also names Meta Financial Group Inc. in Buena Vista County, Iowa, which is the holding company of MetaBank.

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