Since an Illinois regulator issued a cease and desist order last month to shut down the 1st Provision Credit Union, the supposed cooperative no longer has a site posted on the web though its Facebook page was still operating as of Thursday.
The Illinois Department of Financial and Professional Regulation determined the organization could not legally operate as a credit union because it does not have a federal or state charter.
Though the state regulator confirmed the credit union’s site is no longer operating, it did not comment on the credit union’s Facebook page that features photos of “team members” giving the thumbs up and donating blood, member comments, promotions and a home equity ad.
The credit union posted its address in Ottawa, Ill., about 83 miles southwest of Chicago. However, its street address is an apartment building. Wilmont Momo is listed as the registrant, administrative and technical contact for the credit union’s website, 1stpcu.com, according to Whois.com, which lists website domain information.
When contacted by email, Momo said he does not own or operate the website.
“We are a web design business/website reseller,” Momo wrote in an email message to CU Times Thursday. “We purchased domains and websites in whatever name the website’s owners wants it in. After designing or purchasing a client’s website, we turn it over to them and they’re responsible for whatever they do with it.”
Momo also said he did not have the names of the people who hired him and that they contacted him through Facebook.
On its website, 1st Provision Credit Union claimed it was founded in 1998. However, on its Facebook page, the organization posted a picture in November 2016 of an unidentified man cutting a cake celebrating the credit union’s 36th anniversary.
According to Whois.com, the website address was registered on November 18, 2016.
1st Provision CU also claimed on its website that it has 60 staff members, offers 20 services and serves 25,000 customers.
In addition, the credit union states that it is insured by the NCUA and is an equal housing lender.
The NCUA said it has no relationship with 1st Provision CU.
