ALBANY, Ga. – Former Lee County Commissioner Ida Chambers is suing DOCO CU for allowing her son to take loans against her property without her approval.

The 90-year-old Chambers alleges Bill Chambers, Jr. took out loans of more than $1.5 million using 12 properties she and her family own as collateral. The suit claims those properties were held in trust or estates by several members of the Chambers family, and were not owned solely by Bill Chambers.

The younger Chamber used the proceeds in a failed attempt to save his used car business, the suit alleges. When Chambers defaulted on the loans, the credit union foreclosed on the properties. The suit states that DOCO should have known Bill Chambers did not have clear ownership of the property, and should not have made the loans.

The suit is filed by Ida Chambers and her daughter-in-law Cheryl, who is married to Bill Chambers, Jr.

The suit is seeking the return of the properties, punitive damages and attorneys’ fees.


Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.