GULFPORT, Miss. — A federal judge has scheduled an Oct. 16 settlement conference in a lawsuit involving the National Credit Union Administration and Jackson Area Federal Credit Union.
U.S. Magistrate Judge Robert P. Myers Jr. will preside over the 9 a.m. conference in Courtroom 881 in Gulfport. Attorneys must submit confidential settlement memoranda to Myers by Sept. 30 outlining the case, their respective positions and possible settlement figures.
As the CU Daily has been reporting, NCUA, acting as conservator of Jackson Area Federal Credit Union, sued former President and CEO Leigh Bridges, her husband, Chad Bridges, and former branch manager Tina Funez, alleging that millions of dollars were misappropriated from the credit union over several years. The agency alleges the scheme involved fraudulent accounting entries, wire transfers and other
transactions that diverted credit union funds for personal use.
According to the NCUA’s allegations, more than $51 million in false entries were made in share accounts between 2015 and 2026, while the broader alleged misconduct left a roughly $95 million gap between the credit union’s reported and actual financial positions. The agency has alleged that credit union funds were used for personal expenses including luxury jewelry, vehicles, real estate and credit card charges.
The allegations have not been proven in court. The civil case remains pending, and Bridges has denied or invoked her Fifth Amendment rights in response to various allegations, according to court filings and reporting by The CU Daily. Chad Bridges has denied most of the allegations against him.
Attendees at Conference
The court ordered local counsel, lead counsel and parties with full settlement authority to attend the conference in person, including insurance carriers with settlement authority. The order warns that failure to appear could result in sanctions.
In a separate order filed Sept. 17, U.S. District Judge Daniel P. Jordan III granted a request to seal three exhibits related to Chad Bridges’ motion to modify or dissolve a preliminary injunction. The court said the exhibits contain highly sensitive personal financial information and personal identifiers.
The sealed documents will remain inaccessible to the public until further order of the court.
