Mike Goldman, of the Department of Financial Institutions, said it was discovered last week that Exchange funds were insufficient when a money order from the service could not be cashed, and was returned to a currency exchange in Chicago.

The Exchange, 606 S. Illinois, offers services including, money orders, check cashing, Western Union, license plate renewal, traveler’s checks, telegrams, provides food stamps and checks from Public Aid.

Goldman said the return was not an unusual occurrence, but the department felt it best to close the institution.

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We(the department) decided it would be in everyone’s best interest to close it(the currency exchange). The Department did this in cooperation with the store, First National Bank of Carbondale, the Community Currency Exchange of Illinois and the Department of Public Aid. We wanted to insure all money orders would be honored, said Goldman.

Goldman said the exchange should re-open sometime next week.

We’re trying to rectify the situation as soon as we can, Goldman said.

He said mail boxes at the Exchange are still accessible. Public aid checks and food stamps can be collected at the Public Aid Office in Murphysboro at 342 North St. The Exchange cannot cash checks or sell money orders.

Ann Ridge, of the Public Information Office said she wants no one to be at a disadvantage with the closing of the Exchange and stressed that money orders from the service are still usable.

There may be a little inconvenience, but money orders will be honored, said Ridge.

Goldman said the Department of Financial Institutions sent two agents to the Exchange to determine the cause of fund shortage. He said the agents were expected to remain at the Exchange through Thursday but may have to remain through today.

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Kathy Parks, manager of the Exchange, declined comment on the situation.