It's Bank Failure Friday!!!

Still no commercial bank failures this year, but we now have the 3rd credit union failure of the year, Edinburg Teachers Credit Union of Edinburg, TX, which was placed under conservatorship by the NCUA. Texas.

I still have no clue as to why there are so many more credit unions failing than banks, it's not overall numbers, there are about 5100 banks as versus 5700 credit unions, so that is not the source of the difference.

I would figure that credit unions, being less likely to loan to speculative endeavors, would fare better, but, by this metric at least, they are not.

Here is the Full NCUA list of closures, and here is the direct link for this year.