INDIANAPOLIS — Indiana credit unions got a renewed pat on the back from the state's Republican governor for the industry's campaign to emphasize deposit insurance and regulatory protection.

In remarks before the annual convention of the Indiana Credit Union League, Gov. Mitchell Daniels said he remains a strong CU supporter, lauding the industry for serving a positive "counterbalancing" role in the U.S. economy to those for-profit institutions that expanded recklessly to bring on the current crisis.

Daniels, a member of Eli Lilly FCU of Indianapolis and the former head of the Office of Management and Budget under President Bush, said he recognized credit unions' need for flexibility to make business loans and that he backs industry initiatives.

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