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LA JOLLA, Calif. — Many credit unions have been largely unaffected by increasing foreclosure numbers, but it’s not entirely due to a reliance on more conservative mortgage products. For some, like Kinecta Federal Credit Union, it’s simply a matter of serving a financially secure membership that helps ward off the tough times.

Labeling the California mortgage climate as “tough” may be an understatement. Lending institutions sent California homeowners 37,273 default notices during the fourth quarter of 2006, a 37% increase from the previous quarter and a leap of 145% from the fourth quarter of 2005, according to a report by DataQuick Information Systems. The final quarter of 2006 recorded the highest rate since 1998.

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