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NOTICE OF PROPOSED CLASS ACTION SETTLEMENT
You may be entitled to receive a settlement payment and elimination of any Deficiency in connection with a class action against
American Heritage Federal Credit Union
A Pennsylvania Court has authorized this notice.
This is not a solicitation from a lawyer.
You are not being sued.
- This settlement resolves a lawsuit over whether American Heritage Federal Credit Union (“AHFCU”) sent borrowers proper notice of their rights after vehicle repossession.
- AHFCU denies and disputes the claims asserted in the Litigation. The parties disagree about whether any money (and if so, how much) could have been awarded to you if the Plaintiff were to prevail at trial. The settlement avoids the costs and risks to members of the Class like you from continuing with the lawsuit, and provides relief to the Class.
- This settlement will: (a) provide a gross fund of $1,400,000 to be distributed to Class Members after payment of administrative costs, Class Counsel fees and expenses, and a service award to Plaintiff; (b) eliminate disputed Deficiency balances of approximately $2,513,998.10; and (c) require AHFCU to request the credit reporting agencies Trans Union, Equifax, and Experian to delete your auto loan history from your credit report, as set forth in more detail in the proposed Class Action Settlement Agreement and Release.
- Your rights are affected whether you act or not. Read the full notice carefully.
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Your Legal Rights and Options in this Settlement: |
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Do Nothing |
If the settlement is approved by the Court as presented, any post-auction Deficiency balance will be eliminated unless you got your vehicle back, and AHFCU will request the above credit reporting agencies to delete your loan history from your credit report. You will also be paid a proportionate share of the net settlement proceeds, which you can view at this website: www.crawfordAHFCUsettlement.com. This payment will be sent to you by check unless you promptly contact the Settlement Administrator to request one of the other available payment methods it offers. |
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Exclude Yourself Entirely from the Settlement |
You can choose to opt-out of the Settlement which means you are excluding yourself from the Settlement and would not get the relief provided by this Settlement. This is the only option that allows you to ever be part of any other lawsuit against AHFCU concerning repossession or financing of your vehicle. Act by April 7, 2025. |
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Decline the Debt Waiver but Retain Other Settlement Benefits |
If you want to retain the benefits of the settlement but do not want your deficiency to be eliminated as part of this settlement, you must submit an Election Not To Accept Compromise of Disputed Deficiency Balance form. |
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Object |
If you do not opt-out, but instead wish to object to the Settlement, you may do so by writing to the Court about why you don’t like the settlement and do not want it approved. Act by April 7, 2025. |
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Go to a Hearing |
Ask to speak in Court about the fairness of the Settlement on May 12, 2025 at 10:00 AM. |
- These rights and options – and the deadlines to exercise them – are explained in this notice.
- The Court in charge of this case still has to decide whether to approve the settlement. Payments will be made if the Court approves the settlement and after any appeals are resolved. Please be patient.
- For more information or to review key documents or the class action settlement agreement, please visit the FAQ and Important Documents pages on this class website.