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MUNICIPAL CREDIT UNION BOARD TERMINATES KAM WONG

 

NEW YORK CITY – At a meeting last night, the Board of Directors of Municipal Credit Union terminated President/CEO Kam Wong. Mr. Wong was placed on leave on February 22, 2018 and Norman Kohn has been serving as Acting President/CEO since that time. The United States Attorney’s Office for the Southern District of New York has been conducting an investigation that led to Mr. Wong’s arrest on May 8, 2018. MCU has been cooperating with the U.S. Attorney’s Office and is conducting its own internal investigation led by outside counsel. In that these investigations are still ongoing, MCU cannot comment further at this time.

About Municipal Credit Union

Municipal Credit Union is the oldest credit union in New York State and one of the oldest and largest in the country. Established in 1916 and headquartered in New York City, today MCU has assets of more than $2.6 billion and offers a full range of financial services to its more than 425,000 members. MCU is an equal opportunity lender, and deposits are federally insured to at least $250,000 by the National Credit Union Administration (NCUA), a U.S. government agency. For more information about Municipal Credit Union, visit www.nymcu.org.

MUNICIPAL CREDIT UNION BOARD TERMINATES KAM WONG

 

NEW YORK CITY – At a meeting last night, the Board of Directors of Municipal Credit Union terminated President/CEO Kam Wong. Mr. Wong was placed on leave on February 22, 2018 and Norman Kohn has been serving as Acting President/CEO since that time. The United States Attorney’s Office for the Southern District of New York has been conducting an investigation that led to Mr. Wong’s arrest on May 8, 2018. MCU has been cooperating with the U.S. Attorney’s Office and is conducting its own internal investigation led by outside counsel. In that these investigations are still ongoing, MCU cannot comment further at this time.

About Municipal Credit Union

Municipal Credit Union is the oldest credit union in New York State and one of the oldest and largest in the country. Established in 1916 and headquartered in New York City, today MCU has assets of more than $2.6 billion and offers a full range of financial services to its more than 425,000 members. MCU is an equal opportunity lender, and deposits are federally insured to at least $250,000 by the National Credit Union Administration (NCUA), a U.S. government agency. For more information about Municipal Credit Union, visit www.nymcu.org.

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Routing Transit Number: 226078036

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Routing Transit Number: 226078036

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