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The chairman of the now-closed Central States Mortgage Co. acknowledged the economic distress and negative fallout from the collapse of the Milwaukee CUSO, but said also the firm, which filed for bankruptcy last week, produced “years of very good earnings for many small Wisconsin credit unions, a fact that should not be overlooked.”

“And during those years we were able to provide our members very affordable mortgages,” maintained Dean Wilson, chairman of CSMC and president/CEO of the $37 million Focus CU of Menomonee Falls, Wis.

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