The $613 million Alabama One Credit Union in Tuscaloosa, Ala. and the Alabama Credit Union Administration have settled their fight over an injunction to the agency's April 2 cease and desist order against the cooperative.

Alabama One's leading outside counsel, Victor Hayslip of the Birmingham, Ala. firm of Burr and Forman, had said in open court that the credit union wanted to continue the injunction case even after it failed to convince the court to issue a temporary restraining order, according to court observers and media outlets. Nevertheless, the 60,000-member Alabama One and the ACUA jointly agreed to dismiss the case on May 15, according to court documents.

Settling the court fights over the temporary restraining order and injunction set the stage for Alabama One's appeal of the cease and desist order before the ACUA in Montgomery, Ala. An administrative law judge has scheduled three days for the appeal beginning on June 9.