Lender Barred From Using CU Web Domains

The Washington Department of Financial Institutions has ordered a non-credit-union mortgage service provider to stop using the term "credit union" in its Internet addresses.Linda Jeckel, director of the DFI's credit union division, told Evergreen Moneysource Mortgage Co., Bellevue, Wash. that state law prohibits any entity from doing business under a name or title containing the words "credit union" or representing itself to be a credit union, unless it has a credit union charter. According to a report in MortgageWire affiliate Credit Union Journal, the company was directed by the DFI to immediately cease using "credit union" in any way on its websites. The company had been using the Web addresses, creditunionhomeloans.com and creditunionhomeloans.mortgagewebcenter.com. The company has complied with the DFI, striking the credit union reference from its Web addresses.