The message carried in the Twin Cities media over the summer may have been "Lenders Gone Wild" but conditions are relatively stable in Minnesota compared to the rest of the country, state lawmakers were told this week during a special one-day hearing on credit union and bank oversight.

Testifying before the hearing, conducted by the Senate Commerce & Consumer Protection Committee, were executives from the Minnesota Credit Union Network, NCUA, FDIC, banker groups and state regulators.

"Just like others elsewhere, we do have our share of rising delinquencies and charge-offs and I commend the committee for doing the right thing and holding this kind of hearing, but speaking for Minnesota credit unions, I think the data shows our problems are not as severe as Florida, Arizona or California," declared William Raker, president/CEO of US FCU of Burnsville.