First Basin sues

First Basin Credit Union has sued at least six people, including several of its members who opposed its conversion to a mutual savings bank.

Among the Save First Basin members named in the lawsuit are Ector County Commissioner Armando Rodriguez, Manny Puga, chief executive officer of the Odessa Hispanic Chamber of Commerce, and Save First Basin co-founder Letty Moreno.

Besides the six individuals named in the suit, two organizations - the National Center for Member Trust and the Self-Help Credit Union - are also named.

In a lawsuit filed July 14 in Judge Stacy Trotter's court, the credit union alleges members of Save First Basin, a group formed to oppose the conversion, "tortiously" interfered in attempts to convert to a savings bank by "disseminating false information to the members of the credit union, the public and the media."

It also claims the defendants or "individuals at their discretion" contacted members warning them that they would lose all money they'd deposited in the credit union, and that First Basin would close all their accounts.

The lawsuit also says Save First Basin told members that First Basin officers and members of the board of directors had a conflict of interest and stood to make hundreds of thousands of dollars in a conversion, while members would lose more than $11 million they owned.

Save First Basin members referred calls to attorney Cal Hendrick. Efforts to reach Hendrick were not successful Monday.

Meanwhile, First Basin attorney Randall Rouse of Midland hopes to prove the Save First Basin members worked with the North Carolina-based National Center for Member Trust and the Self-Help Credit Union to deceive local members.

"We took some pre-trial discovery, and we feel confident in our case," Rouse said Monday.

The suit alleges First Basin was damaged by the defendants in excess of $600,000. Rouse said the credit union looks to recover that primarily from the North Carolina groups, while, at the same time, seeking injunctions from the Save First Basin members.

"We're seeking an injunction for them to quit bothering the credit union," he said.

First Basin announced its intention to convert to a savings bank last year, but suspended a vote in February, citing "misinformation" in phone calls being made from Save First Basin to members. The election was officially cancelled in March. 

DEFENDANTS IN THE LAWSUIT

>> Letty Ayala-Moreno.

>> Carol Uranga.

>> Sylvia Acosta.

>> Danny Armstrong.

>> Manny Puga.

>> Armando Rodriguez.

>> National Center for Member Trust.

>> Self-Help Credit Union.