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Judge Dismisses Corporate Central CU vs. U.S. Central FCU and NCUA

U.S. District Judge Lynn Adelman dismissed the $1.8 billion Corporate Central CU's case against conserved U.S. Central FCU and the NCUA.

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U.S. District Judge Lynn Adelman dismissed the $1.8 billion Corporate Central CU’s case against conserved U.S. Central FCU and the NCUA.

Corporate Central filed the suit nearly one year ago after U.S. Central did not refund $6 million worth of excess membership capital accounts to the Muskegon, Wis.-based corporate and other members in December 2008. The struggling U.S. Central, seized by NCUA just three months later, had placed a moratorium on adjusting membership capital account requirements.

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Peter Westerman

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