HOUSTON -- What business model could have averted the currenteconomic crisis? Cooperatives and credit unions, offered PaulHazen, president/CEO of the National Cooperative BusinessAssociation.

In a Nov. 2 editorial to the Houston Chronicle, Hazenlists factors that may have caused the latest economic shakeup.

"Mortgage lenders and Wall Street are guilty of many of theseaccusations. But there's one major flaw in the logic of thisfinger-pointing--these are symptoms, not causes, of our financialsystem. In other words, it's the nature of the beast," Hazenwrote.

Co-ops such as Land O'Lakes, Sunkist and the AssociatedPress, as well as credit unions, he said, are a part of alarge cooperative movement that has more than $1 trillion in assetsand more than 125 million members.

"Credit unions have remained stable in the current wave of bankfailures," Hazen wrote. "Consequently, they've made less riskymoves, like packaging subprime mortgages into stock and sellingthem on the market. Because every member is an equal owner, there'sno incentive for anyone--president, CFO or CEO--to try tomanipulate stock price."

In addition to "better" interest rates on deposits, and lowerinterest rates on loans, Hazen said "what draws members to creditunions--strength, good deals, self-reliance, community focus--alsodraws people to other types of business cooperatives."