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."

The shutdown of Central States Mortgage Co., a Milwaukee CUSO, underscores the need for credit unions to perform "full faith due diligence investigating third parties before jumping into this kind of business," warned Wisconsin's top CU regulator.

Testing out a new caregiver-safe harbor theme, a group of Washington State credit unions have launched an updated branding campaign called "Membership Means Something."

The Wisconsin Division of Banking Tuesday called the abrupt closing of Central States Mortgage Co., the Milwaukee CUSO, discomforting and "extremely unusual" for an operation its size.

The sudden closing of Central States Mortgage Co., a Wisconsin CUSO with 25 CUs and the Wisconsin Credit Union League as shareholders, set off a new round of charges Tuesday.

In a surprise move, Central States Mortgage Co., a Wisconsin-based CUSO and one of the nations's largest mortgage units servicing 250 CUs, suspended operations Monday following long running court litigation and a management shakeup involving the CUSO.

It's been more than a month now since that ABC-TV crew did what was called an "ambush" number on credit union attendees convened for a Credit Union Executives Society conference at a Caribbean resort and so far nothing has been broadcast.

The economic crisis plus new mortgage opportunities for credit unions has given "real validity" to the newly-minted League of Southeastern Credit Unions, Guy M. Hood, president/CEO of the soon-to-be consolidated Florida Credit Union League said Friday.