REGULATING AGENCY: Arizona Department of Insurance and Financial Institutions, Financial Institutions Division
- Evan G. Daniels, Superintendent
- Shane Foster, Deputy Director
- Marie Corral, Credit Union Division Manager
- Website: dfi.az.gov/industry/financial-institutions/credit-union
- Press Releases
LEAGUE: Mountain West Credit Union Association
STATS: (As of Dec 2020)
- TOTAL # SCUs: 17
- TOTAL # FCUs: 21
- SCU % OF TOTAL (SCUS #/STATE TOTAL #): 48% of 38 AZ CUs
- TOTAL $ SCU ASSETS: $16,567,010,198
- TOTAL $ FCU ASSETS: $7,178,522,501
- TOTAL ASSETS: $23,745,532,699
- SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 70%
FUN FACT: The original London Bridge was shipped stone-by-stone and reconstructed in Lake Havasu City.
FEB. 22 2021 — After obtaining evidence of operating in Arizona as a money transmitter without a license, the Arizona Department of Insurance and Financial Institutions has issued a Cease and Desist Order regarding Oasiss Inc. dba Oasiss Money Exchange. The order requires the company to cease operating until the company becomes licensed and issues a civil money penalty of $10,000. Arizona consumers using Oasiss Money Exchange for payments or remittances should double check all transactions to ensure proper accounting for all funds.
“This Agency will not stand by when companies take shortcuts in their regulatory responsibilities,” said Director Evan G. Daniels. “Arizona businesses deserve a level playing field and Arizona consumers deserve the peace of mind of knowing the businesses they interact with are following the rules.”
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