Michigan’s Office of Financial and Insurance Regulation has ordered an entity claiming to be a Pennsylvania-based credit union called “Firststar Credit Union” to stop doing business because it appears to be fraudulent.
OFIR officials believe Firststar, through its website, www.firststarlendingservices.com, is posing as a legitimate credit union and may be attempting to steal consumers’ money and identity. The fraudulent financial institution, which advertised in Michigan newspapers, is encouraging customers to apply for loans by providing upfront payments and personal information.
OFIR contacted Godaddy.com, the Firststar website host, and the website has been shut down.
Consumers can contact OFIR toll-free at 877-999-6442 to find out if a bank or credit union is a legitimate financial institution.
The agency urged consumers to develop a face-to-face or personal relationship with a financial institution before entering into a business contract. Prior to opening an account at an Internet bank or credit union, consumers are encouraged to call OFIR or check out information on legitimate depositories on OFIR’s website, www.michigan.gov/ofir.
To find or verify a federally insured state-chartered credit union in Michigan, visit: http://www.dleg.state.mi.us/fis/ind_srch/CreditUnion/Search.asp.
To find or verify federally insured credit unions across the country, visit the National Credit Union Administration at: http://www.ncua.gov/indexdata.html.
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