The Michigan Office of Financial and Insurance Regulation (OFIR) has ordered an entity claiming to be a Grand Haven-based credit union to cease and desist from doing business. The entity, which went by the name Whitestone Credit Union, may have been trying to steal consumers' money and identity by encouraging them to apply for loans, the OFIR says.
‘It looks like these scammers were posing as a legitimate credit union in order to obtain information used in identity theft,’ says OFIR Commissioner Ken Ross.
The fraudulent financial institution was encouraging customers to apply for loans through its website – www.whitestonecreditunion.com – and its telephone answering service. Customers were asked to provide personal information such as their social security and financial account numbers. Whitestone's website is currently shut down.