Thursday, August 18, 2011

Kansas CU Regulator Assumes Control of CU

The Salina Journal is reporting that the board of directors of the Enterprise Credit Union voted earlier this week to transfer control of the credit union to the Kansas Department of Credit Unions.

John Smith, the administrator of the Kansas Department of Credit Unions, said that during the Department’s examination of the credit union, it uncovered some accounting irregularities. The Department decided to engage a public accounting firm to conduct an audit of the credit union’s books.

Enterprise Credit Union has 577 members and $1.8 million in assets.

Read the article.
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