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CONCORD, Calif. — Cal State 9 Credit Union, now operating under a Cease and Desist order from the Department of Financial Institutions, the contents of which have been kept confidential is trying to dig its way out of what seems a mountain of loans gone bad.

“In early September, Cal State 9 Credit Union received an order from the Department of Financial Institutions,” acknowledged president Jackie Wong. “Cal State 9 CU is in full compliance with the order, and has been for some time. We are continuing to work closely with both our state and federal regulators to serve the best interests of our members. Cal State 9 CU’s daily operations remain business as usual, and we are continuing to focus on meeting our members’ financial needs with the excellent service we’ve always provided,” he added.

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