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News Now

CU System
West Virginia attorney general shuts down bogus CU website
CHARLESTON, W. Va. (5/7/09)--West Virginia has shut down a bogus website that claimed to be operated by a Charleston, W.Va., credit union. State Attorney General Darrell McGraw's office worked with GoDaddy Group Inc., a domain registration company, to shut down the site, named statecreditunion.net (Charleston Daily Mail May 6). The site falsely claimed it represented the "West Virginia State Credit Union." There is no such credit union; however the name is similar to The State CU, a $37 million asset legitimate credit union. Its website is at www.wvpecu.org. Consumers who applied for loans through the bogus site received e-mails identifying the company as the fake credit union and were told that to qualify for the loans, they had to pay $1,250 for "insurance." The fraudsters directed the victims to wire the money to a location in Canada. After sending the money, the victims never heard from the "credit union" again.
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