When Leigh Bridges was away from her job as president/CEO of the $71.3 million Jackson Area Federal Credit Union, her favorite place was the "purse room," nestled within an extensively renovated French Country home standing high on a hill in one of the most affluent neighborhoods in Jackson, Miss.

"An article in the Mississippi Magazine's July/August issue, available online, details the home of Chad and Leigh Bridges," according to one of the court documents filed by the NCUA's civil lawsuit against the couple." The article shows numerous photographs of the Bridges' home that feature fine furnishings and fixtures."

While the photos showcase the elegant interior features of the home, Leigh and her husband, who worked as an administrator for the Mississippi State Department of Health, are not shown in the pictures.

From 2015 to March 31, 2026, Bridges allegedly siphoned millions, buying high-end jewelry, handbags, luxury cars, fine art and a Steinway piano, and made payments to a construction company, interior designer, pool installer and a property maintenance services company. She also made tens of millions of dollars in credit card payments, according to the NCUA's civil lawsuit.

When confronted on April 17 by board members and NCUA examiners about the $95 million shortfall in the credit union's books, Bridges admitted she transferred the funds from Jackson Area Federal Credit Union (JAFCU) general ledger to her personal accounts so that she would have adequate funds to make extensive personal purchases, including expensive jewelry and handbags.

The JAFCU board suspended her with pay. Her annual salary in 2025 was $216,564, according to court records. She was appointed CEO in 2022 and previously worked as the credit union's CFO for several years. She allegedly began stealing from the credit union in 2015 that financed her spending sprees over the next 11 years.

The Mississippi Magazine article reported that the Bridges hired a well-known interior designer, Courtney Peters, to develop the "perfect space to intertwine their traditional antiques with modern elements to create a style more suited to their personalities," the article's author Mary Neff Stewart wrote.

In one room that had been previously used as a home gym, Peters designed Leigh's favorite place, her purse room, which showcased both her "considerable collection of handbags" and her "girlie" side, the author wrote.

"Each grouping of bags was systematically measured to be sure that each had the perfect size cabinet or drawer for adequate space," Stewart wrote. "The pair used this as a great design opportunity to create a fun, feminine space with accents such as a chandelier and blue and white printed carpeting. Rainbow rows of clutches, satchels, and totes are showcased in a boutique-style, allowing every morning's selection to feel like a stroll down Fifth Avenue."

In addition to this home, with an estimated value of nearly $640,000, the Bridges own three other properties, according to a sworn statement from Michael Stanislao, an NCUA contract employee who works on asset recovery and collection for the agency's Asset Management Assistance Center.

The Bridges also own a condo at Perdido Beach Boulevard in Orange Beach, Ala., worth more than $1.1 million, a rural house on the Great Southern Road in Hazelhurst, Mississippi, valued at $158,300, and a house on Eastbrook Street in Jackson valued at $369,200.

"The properties are therefore estimated to be worth the total amount of $2,365,527," Stanislao wrote.

He also noted that Leigh and Chad Bridges owned four cars, a 2026 Tesla Model Y, a 2023 Tesla Model Y, a 2021 Mercedes-Benz GLA 250 and a 2020 Mercedes-Benz G 550. The vehicles are estimated to be worth between $169,648 to $219,320.

After she admitted to the misappropriations, Bridges offered to pay back the funds, according to court documents.

Bridges stated she could return multiple millions from her bank accounts at other financial institutions, including American Express, Acorns, Chase and other financial institutions. She offered to sell everything she owned, other than her homes, to pay the credit union back. Bridges asserted, however, that the amount missing was less than $94 million and that she had enough material assets to sell and pay it all back.

However, in his sworn statement, NCUA Problem Case Officer Ethan Meyer wrote JAFCU's cash and investments were overstated by at least $95,792,530.

"NCUA staff performed an onsite review of JAFCU's books and records including the Corporate America Credit Union (CACU) reconciliation last completed by Leigh Bridges for September 30, 2025, and compared these records with records directly to NCUA from CACU," Meyer wrote.

"NCUA staff determined that JAFCU submitted falsified corporate statements from CACU, which included fictitious transaction entries, to NCUA examiners."

As a result of this shortfall of cash and investments, the NCUA granted a guaranteed line of credit from the share insurance fund to JAFCU in the amount of $110 million. Should JAFCU be unable to pay its liabilities, the share insurance fund is obligated to repay the funds.

When the NCUA filed its complaint on May 14, U.S. District Court Judge Daniel P. Jordan in Jackson granted the federal agency a temporary restraining order that froze at least 13 different financial accounts held by the former CEO and her husband. The TRO also prevents the transfer of four properties, four vehicles, artwork, jewelry, handbags, clothing and cash value life insurance policies.

The TRO is in force until Judge Jordan decides on the NCUA's motion for a preliminary injunction that would safeguard the funds, assets and properties pending the outcome of the civil lawsuit.

The Bridges and their attorney are expected to answer the NCUA's lawsuit in July, the court's docket showed.

Peter Strozniak can be reached at peter.strozniak@arc-network.com.

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