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Credit union leaders Monday were voicing support for the NCUA takeover of two corporate credit unions.

“Of course, we’re not happy with what has occurred, and I don’t agree with the methodology, but I’m glad Fryzel took the decisive action he did to put a corral around the problem,” said James Blaine, president/CEO of State Employees’ CU of Raleigh, N.C. “We’re more than willing to maintain federal deposit insurance for our members, and this is the cost we’ll have to bear,” adding that the issue is confidence and that is being restored.

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