St. Francis Campus Credit Union under investigation

FBI, Department of Commerce, National Credit Union Administration and LFPD working together

By Terry LehrkeNews Editor

St. Francis Campus Credit Union (SFCCU) in Little Falls is under investigation by the Federal Bureau of Investigation (FBI), the Minnesota Department of Commerce, the National Credit Union Administration and the Little Falls Police Department.

Since the investigation is currently active, no details are being released as to its reason.

No arrests were made when the investigation started Jan. 23, said Kyle Loven with the FBI.

“As far as any details, I simply can’t get into those because it is an active investigation,” said Loven.

SFCCU remains open for business during what SFCCU Board Chair Gloria Lust called “an extensive review.”

Lust said every five years the credit union undergoes an extensive review. “It’s not an unusual occurrence,” she said.

Loven said there was no timetable for the length of the investigation.

“We will follow the facts and wherever the facts lead us, that’s where the investigation will go,” he said. “We simply aren’t able to put a definite time period on that.

“This matter was brought to our attention and we’re going to proceed in a logical fashion,” said Loven. “It will be a thorough investigation when it has been concluded.”

Little Falls Police Chief Greg Schirmers said information his department receives from citizens is sent to the appropriate agency when needed. He indicated that not only were no arrests made, but no one was walked out of the building at any time by law enforcement. His department will continue to aid as needed in the investigation.

Lust said depositors’ money is safe and is guaranteed up to $250,000. “So nobody has to panic,” she said.

 

 

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