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Unlicensed Credit Union – Municipal Trust Credit Union

Dec 30, 2013

The Department of Business Oversight has been notified that Municipal Trust Credit Union, using the telephone number (800) 976-5530, is offering credit union services and is falsely representing itself to be a credit union. It has advertised in various newspapers such as the Los Angeles Times, The Denver Post, and the Brooklyn Daily Eagle. Municipal Trust Credit Union is not licensed by the federal government or by any state, and it is not affiliated with any licensed credit union. Licensed credit unions, unlike unlicensed operators, carry insurance to protect depositors from loss and are subject to regular examinations for compliance with state law by the Department of Business Oversight.