BOISE, Idaho – The “fake credit union scam” currently working its way around the country has hit Idaho. Idaho Department of Finance Director Gavin Gee has issued a cease and desist order against five individuals and one company for fraudulently using the name of Michigan-based Credit Union One to solicit consumers. This is the second order issued recently by the Department against a phony credit union. The first order was issued against an alleged Moscow, Idaho-based America’s Choice Credit Union- the legitimate credit union is based in California and does not have any operations in Idaho. The latest fraudsters advertised in Idaho using the name “Credit Union One” a credit union supposedly based in Toronto, Canada. Gee is warning consumers that the legitimate Credit Union ONE does not do business in Idaho, has not been issued the required lenders license by the Department, and is in no way connected to this fraud.
An expert issues a warning, “Time is up – companies need to be proactively protecting their attack surface..."
Duane Allen Sikes admits to embezzling $5.4 million from a Florida credit union.
The drop suggests the housing market is still struggling as buyers strain to find affordable options.
Sponsored by Kaufman Hall
Build a better budget! Learn 6 best practices for leveraging the appropriate financial and operational data, processes and tools to improve planning, efficiency and accuracy to drive improved profitability.
Sponsored by Harland Clarke
Digital search is evolving. Explore 4 vital indicators your credit union needs to optimize to provide relevant information, and drive engagement during moments of opportunity with existing and potential members.
Credit Union Times
Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!
- Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
- Exclusive discounts on ALM and Credit Union Times events.
- Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.
Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.