Chicago Daily News Employes' Credit Union v. Reed

Plaintiff, Chicago Daily News Employes’ Credit Unión, brought this action in the Municipal Court of Chicago to recover the proceeds of certain loans made to defendant and not repaid. At the time of suit the Credit Union was in the process of liquidation. The action was commenced under the provisions of the statutes permitting suit to be brought by decision of a credit union’s liquidating committee, in the corporate name.

In its amended statement of claim, plaintiff sought judgment in the sum of $4,259, plus interest from September 25, 1959, the date of the last payment. Defendant filed a…