Wisconsin Banking Update
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Red Ink for Many Wis. Credit Unions
Posted on May 26th, 2009 No commentsThe first-quarter financial results for Wisconsin’s biggest credit unions are “stunningly bad,” the Milwaukee Journal Sentinel reported. Eight of 10 posted losses – most of them losses of more than $1 million. “The Wisconsin Office of Credit Unions has been holding off on publishing its quarterly financial report on credit unions, aware of how awful the numbers looked,” according to the article. Credit union deposit insurance changes will allow many to restate their earnings.
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