Order to Cease and Desist Issued to Delta Credit Union Financial Services, Affiliated Entities, and Associated Individuals

December 18, 2015

Atlanta, Georgia – Today, the Department of Banking and Finance, State of Georgia (“Department”) issued an Order to Cease and Desist to Delta Credit Union Financial Services as well as its affiliated entities and associated individuals. It is unlawful to conduct and/or be affiliated with a credit union business in Georgia without a credit union charter. It is also unlawful to use the term “credit union” in any entity’s name without the permission of the Department. The Department has no record of Delta Credit Union Financial Services and has not approved this entity or any of its affiliated entities or associated individuals to organize a credit union and/or conduct a credit union business in or from Georgia. Furthermore, the Department has not granted Delta Credit Union Financial Services permission to use “credit union” in its name.

The location purported to be used by Delta Credit Union Financial Services is 315 Highway 74, Peachtree City, Georgia 30269, which is an approved branch office of Delta Community Credit Union, a federally insured Georgia state-chartered credit union headquartered in Atlanta, Fulton County, Georgia. Delta Credit Union Financial Services appears to have no connection or relationship with Delta Community Credit Union whatsoever.

Nothing contained in the Order applies to Delta Community Credit Union, which is chartered by the Department and legally authorized to conduct business as a credit union. Delta Community Credit Union is aware of the Department’s action and has been cooperative in the matter. The terms of the Order include the following:

The terms of the Order include the following: 

  • Immediately Cease and Desist from using “credit union” or any derivative thereof in its name in any form, including any internet website, marketing material, signage, correspondence, and/or legal documentation that could reach Georgia consumers without the written authorization of the Department pursuant to O.C.G.A. §7-1-243.

  • Immediately Cease and Desist from using “credit union” or any derivative thereof in its name in any form, including any internet website, marketing material, signage, correspondence, and/or legal documentation originating from within this State without the written authorization of the Department pursuant to O.C.G.A. §7-1-243.

  • Immediately Cease and Desist from claiming to be a credit union, in any form, including any internet website, marketing material, signage, correspondence, and/or legal documentation that could reach Georgia consumers.

  • Immediately Cease and Desist from claiming to be a credit union, in any form, including any internet website, marketing material, signage, correspondence, and/or legal documentation originating from within this State.

  • Immediately Cease and Desist from providing any financial products or services to the citizens of Georgia by any delivery system, including the internet, while using the word “credit union” or any derivative thereof without the written authorization of the Department pursuant to O.C.G.A. §7-1-241(c).

  • Immediately Cease and Desist from providing any financial products or services from within this State by any delivery system, including the internet, while using the word “credit union” or any derivative thereof without the written authorization of the Department pursuant to O.C.G.A. §7-1-241(c).

  • Immediately Cease and Desist from engaging in the business of a credit union from within the State of Georgia and/or into the State of Georgia.
  • Respond to the Department by December 31, 2015 indicating the actions taken regarding compliance with the provisions of this Order. The Department may take further legal action through the State Attorney General or otherwise as authorized by law.

Contact:

Murali Ramachandran
Supervisory Manager
Phone: (770) 986-1645
E-mail: murali@dbf.state.ga.us