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The Michigan Office of Financial Insurance Regulation on Thursday closed the $303,261 United Catholic Credit Union of Temperance, Mich., alleging criminal activity at the one-person shop. The OFIR appointed the NCUA as liquidating agent.

An OFIR examination found UCCU was operating in an unsafe and unsound manner and insolvent. The Michigan regulator said in a release it is working closely with investigators at the state’s Attorney General’s Office. The credit union’s only part-time employee was Manager Sharon Broadway.

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