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CU System Briefs (03/05/2012)
  • OLYMPIA, Wash. (3/6/12)--Olympia (Wash.) CU alerted the Washington Department of Financial Institutions Monday that counterfeit checks bearing the credit union's name are surfacing in the area. The checks are apparently being mailed from an H&R Block branch in Olympia and appear to be drawn off an Olympia CU checking account, according to the credit union's Website. An accompanying letter states that the funds are sweepstakes winnings (Northwest Credit Union Association Anthem March 1). "Our front line staff received a call to verify funds on one of these checks," said Tammy Allender, $32 million asset Olympia CU's CEO said. After the employee informed the caller the check was not valid, an e-mail was sent to the entire staff warning about them about the possibility of fraudulent checks. More calls came in, and all staff informed the callers [the checks] were fraudulent." We had one institution that had kept its client's 'winning' letter along with a copy of the check, and they faxed it over so we could take a look. We then saw some of these checks showing up on our exception report, and of course those checks were returned" ...


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