Since an Illinois regulator issued a cease and desist order last month to shut down the 1st Provision Credit Union, the supposed cooperative no longer has a site posted on the web though its Facebook page was still operating as of Thursday.
The Illinois Department of Financial and Professional Regulation determined the organization could not legally operate as a credit union because it does not have a federal or state charter.
Though the state regulator confirmed the credit union's site is no longer operating, it did not comment on the credit union's Facebook page that features photos of “team members” giving the thumbs up and donating blood, member comments, promotions and a home equity ad.
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