CHARLOTTESVILLE, Va. — Cognizant of the industry’s emerging role in trying to calm member concern over mortgage turmoil, a prominent Virginia CUSO said today it has been sending out letters and e-mails to client CUs in two states and the District of Columbia urging they become “pro-active” on re-fi products as well as in offering education and counseling.

“The current problem in the mortgage industry will continue to have far-reaching effects for some time,” warned Member Options LLC, a CUSO operating in Maryland, Virginia and D.C., adding that member alarm is already evident as local “lenders who offered high risk products are closing their doors or teetering on bankruptcy.”

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