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:

8. Montauk Credit Union, New York, ​NY
9. 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.