Credit unions, like banks and thrifts, are experiencing their worst financial crisis ever. Hundreds of credit unions -- large and small -- reported operating losses this week and last, according to The Credit Union Journal, a sister publication to NMN. The biggest losses -- many of which are mortgage related -- were concentrated in the four states hardest hit by the plunge in real estate values: California, Florida, Arizona and Nevada, but credit unions all over the country are awash in red ink.
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