I neglected to check the bank regulator websites last night, and there were two more credit union failures on Friday:
- O.F. Toalston Federal Credit Union, of Logan, WV
- Mingo County Education Federal Credit Union, of Williamson, WV
Here is the Full NCUA list, and a direct link for this year.
I'm not sure if these two failures are connected, though this is possible, they are 30 miles apart, and both were conserved, not liquidated, for, "Unsafe and unsound practices," which apparently are connected to rising default rates, at both institutions.
There do not appeared to be any shared management, and this could be a consequence of rising interest rates as well.
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