The Municipal Credit Union’s Board of Directors and members of its Supervisory Committee have been removed by order of the state Department of Financial Services “due to severe deficiencies” in their oversight of the institution, according to a statement released by the credit union after an inquiry by this newspaper.
Michael Mattone, MCU’s vice president for public relations, emphasized that the “MCU is not in receivership and operating normally,” and the services provided to the credit union’s members “will continue uninterrupted.”
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