Michigan's largest credit union suspended its promotional pitchman, HGTV celebrity host Carter Oosterhouse, after he was accused of alleged sexual misconduct with a former co-worker.

The 41-year-old Oosterhouse has denied the salacious accusation that first appeared in the Hollywood Reporter last Thursday. On Friday, the $5 billion Lake Michigan Credit Union in Grand Rapids, suspended its marketing relationship with the Traverse City, Mich. native and LMCU member. He moved to Los Angeles after graduating from Central Michigan University and landed a part as a carpenter on TLC's Trading Spaces in 2003, which launched his national career and led to his HGTV cable shows and network television appearances.  

"We take the accusations brought forth against Carter very seriously. In our dealings with Carter, we never witnessed any type of behavior suggested in the allegations and have found him to be a person of character," LMCU said in a prepared statement Monday. "Lake Michigan Credit Union has a zero-tolerance policy toward any form of harassment committed by or on our employees or our representatives. LMCU is surprised at the allegations brought forth.  At this time we've made the decision to suspend our marketing relationship pending further investigation into this matter."