$570,000 Tri County Area Federal Credit Union class action settlement

Tri County Area Federal Credit Union agreed to a $570,000 class action settlement to resolve allegations it failed to send proper notices to borrowers after repossessing their vehicles.

The Tri County Area Federal Credit Union settlement benefits anyone who:

• Bought a vehicle for personal use
• Financed the purchase through Tri County Area Federal Credit Union
• Had their vehicle loan or installment sale contract assigned to the credit union
• Experienced repossession by the credit union
• Lived in Pennsylvania at the time of repossession
• Received a post-repossession notice from the credit union between Aug. 22, 2016, and Oct. 17, 2022

The Tri County Area Federal Credit Union class action lawsuit alleges the credit union failed to send proper notices to borrowers after repossessing their vehicles. The plaintiff claims these notices lacked certain disclosures required under Pennsylvania law.

Tri County Area Federal Credit Union is a Pennsylvania community-chartered credit union serving 41 townships and boroughs within Berks, Montgomery and Chester counties.

The credit union hasn’t admitted any wrongdoing but agreed to pay $570,000 to resolve the class action lawsuit.

Under the terms of the Tri County Area Federal Credit Union settlement, class members can receive a pro rata share of the settlement fund after certain fees and expenses are paid for administrative costs, legal fees and the plaintiff service award. The credit union also agreed to eliminate disputed deficiency balances and to request credit report agencies to update affected borrowers’ credit reports to remove any reference to the auto loan account with the credit union.

The exclusion and objection deadline is Dec. 5, 2024.

The final approval hearing is Jan. 3, 2025.

The settlement does not require a claim form. Class members who do not exclude themselves will automatically receive settlement benefits.

Who’s Eligible

Individuals who purchased a vehicle for personal use, financed it through Tri County Area Federal Credit Union, had their loan or installment contract assigned to the credit union and experienced repossession while living in Pennsylvania. Additionally, they must have received a post-repossession notice from Tri County Area Federal Credit Union between Aug. 22, 2016, and Oct. 17, 2022.

Potential Award

TBD

Proof of Purchase

N/A

Exclusion Deadline

12/05/2024

Case Name

Jesse Shainline v. Tri County Area Federal Credit Union, Case No. 2022-16043 in The Court of Common Pleas of Montgomery County, Pennsylvania

Final Hearing

01/03/2024

Settlement Website

TCARepoClassAction.com

Claims Administrator

Shainline v. TCA
Class Settlement
c/o Settlement Administrator
P O Box 23648
Jacksonville, FL 32241

Class Counsel

Jody T López-Jacobs Esq
FLITTER MILZ P C

Defense Counsel

Geralyn Passaro Esq
LITCHFIELD CAVO LLP