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Can the CU Business Model Survive?

SAN DIEGO -- Credit unions must be ready for whatever these tumultuous economic times throw at them, and part of that may mean secondary capital and retooling the business model.

By Heather Anderson | Updated on November 11, 2008

SAN DIEGO — Credit unions must be ready for whatever these tumultuous economic times throw at them, and part of that may mean secondary capital and retooling the business model.

Peter Duffy, associate partner at investment consulting firm Sandler O’Neill & Partners, said he’s currently working with 10 large credit unions, restructuring their balance sheets to adapt to Duffy’s “state of readiness” plan, which prepares credit unions for what he says are much tougher economic times ahead.

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