The Financial Services Regulatory Authority of Ontario has issued a formal warning about Ottawa Credit Union for operating without registration, marking the third such alert in two years.
Consumers are being misled by the online presence of unregistered credit unions like Ottawa Credit Union, which claims impressive savings rates but lacks legitimate registration.
Attempts to contact Ottawa Credit Union resulted in failure for both consumers and regulatory agencies, highlighting a concerning trend of deceptive financial entities operating via the internet.
Online searches continue to yield results for unregistered credit unions like Ottawa and Sunray, underscoring the difficulty of identifying credible financial institutions in a digital landscape.
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