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Wisconsin League Countering Central States Fallout

Aiming to blunt negative fallout from the closing of Central States Mortgage Corp., the Wisconsin Credit Union League said the problems at CSMC are an anomaly as distinguished from a "healthy growing industry with a strong performance in 2008."

By Jim Rubenstein | Updated on March 11, 2009

Aiming to blunt negative fallout from Monday’s closing of Milwaukee CUSO, Central States Mortgage Corp., the Wisconsin Credit Union League said the problems at CSMC are an anomaly as distinguished from a “healthy growing industry with a strong performance in 2008.”

“Credit unions are managing the economic downturn in stride, making loans, are well capitalized and adding members at a rate one of the highest in the nation,” said Chris Olson, director of communications for the league which has been reassuring media with a positive spin despite the surfacing of “bad news.”

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