The ongoing problems at Alabama One illustrated the fundamental soundness of the state-chartered credit union system rather than its weakness, according to regulators and executives.

CU Times spoke with credit union regulators in North Carolina, Kansas and Texas, three states with credit union-independent regulators that control their own budgets much like that of the Alabama Credit Union Administration.

While none of the regulators or executives spoke directly about what had happened at Alabama One, they each explained how their departments handled compliance issues and why they believed it would be almost impossible for a situation like Alabama One's to arise in their own states.

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