18 September 2015

It's Bank Failure Friday!!!

And here they are, ordered, and numbered for the year so far.

There are no bank failures this wee, but we have two credit union failures:
  1. Montauk Credit Union, New York, ​NY
  2. Bethex Federal Credit Union,  ​Bronx, ​NY ​09/18/2015
Here is the Full NCUA list.

I am not sure why credit unions are failing more than commercial banks, there are only 6 bank failures so far this year.

Part of it might be that the numbers of credit unions migh have fallen a lot less than those of banks, because, as non-profits, there is less impetus to merge, particularly since 2B2F* will never be a viable strategy for non-profit financial institutions.

*Too Big To Fail.


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