The Utah Department of Financial Institutions has issued an alert to all of the state's financial institutions and their depositors to be "extremely cautious" in engaging in transactions involving a group which calls itself The United Indian Credit Union.
The department said the United Indian Credit Union claims to have headquarters in Las Colinas, Texas, with branches in Utah, California and Washington.The department emphasizes that the credit union has not been chartered or licensed to do business in Utah.
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It was recently reported in USA Today that the United Indian Credit Union plans to issue secured credit cards to American Indians.