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CU System
Wisconsin DFI warns about company's request for info
MADISON, Wis. (1/31/13)--Wisconsin's Department of Financial Institutions (DFI) has issued an alert cautioning businesses about a company's request for confidential information.

Businesses should use caution if they receive a request for information from a company called Corporate Records Service, said DFI.

"The form has a very official look to it," said Paul Holzem, administrator of DFI's Division of Corporate and Consumer Services. "It includes information about companies that is available on the DFI website, such as corporation number and incorporation date, that make it appear to be a legitimate request."

The company asks business owners to fill out an Annual Minutes Form and submit a fee of $125 to a Madison, Wis., mailbox.  Businesses are not required by DFI or any other state agency to complete the form, said DFI."

"Business owners should not be hoodwinked into giving out potentially confidential information and paying an unnecessary fee," Holzem said.

Although the alert is not directed to credit unions, they can inform their members with small businesses about the DFI's concern.  

The agency said it has received numerous inquiries from business owners asking whether the form was a new DFI requirement. DFI is the filing office for businesses in the state and is also the regulator of state-chartered credit unions in Wisconsin.

The form states that the company offers to assist businesses with maintaining minutes of meetings of shareholders and boards but does not specify how the service would be supplied.


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