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credit union issues

November 18th, 2009 at 07:39 pm

Saving log - $4 tip box
Spending log - $1.75 coffee + 5$ phyllo dough
Found money - $.20 (19 cents under a bench at a bus stop, penny on the road

Petunia asked, but I really don't have an equally gossipy spreadsheet that lists out failing credit unions as I do failing banks. From The Bank Implode-O-Meter, I do have a list of credit union conservatorships, along with failed credit unions. Just not blogged about as much.

And if you like things a tad less lurid, here's an index of NCUA board reports and decisions.

I don't know whether the lack of blogging and gossip is because credit unions are more conservative and therefore more stable, or whether credit unions are smaller and therefore its not as interesting to collect that info. (Mea culpa to thrifty ray for that dig. Big Grin)

No matter bank or credit union, its hard to figure out where to put that change found on the sidewalk: $8.73 thus far - 223 pennies, 8 nickels, 41 dimes, 8 quarters. Enough, when put in an extra strong sock, to really hurt someone. Hmmm, there's an idea...

6 Responses to “credit union issues”

  1. Thrifty Ray Says:

    Ah Baselle...you knew this post would pique my curiousity...mea culpa indeed!

    I have a feeling it is a combination of reasons for the m.i.a. credit union info. I know that there are some that have been hit hard by the economy...some are indeed doa...others, gimping by for the time being...

    Fortunately, we did not get into lending practices that led to the demise of many a big bank...(and some credit unions)...

    most notable...no bailout money for credit unions...we are bailing our infrastuctures out ourselves and it is causing a backlash of financial aches and pains...but so far so good for those who have been prudent and cautious. (yay)

  2. LuxLiving Says:

    Hubster has one of those socks - I made him count it the other day - over $300 in there!

  3. monkeymama Says:

    My guess is less CUs are failing.

    The small banks and CUs in my region are thriving. They didn't partake in subprime loans, and that is pretty much why. (The ones that did partake in subprime loans probably sunk faster than the big banks).

  4. baselle Says:

    I wonder how the CIT bankrupcy is affecting credit unions - it does mean, if nothing else, that they will be shouldering more small business loans.

  5. Petunia Says:

    Thanks baselle! I didn't think the credit union we belong to would be on anyone's list. . . but it's good to take a look, anyway.

  6. Jerry Says:

    I like CUs. I was with Navy Federal Credit Union for a while, and they were fine until I moved both banking and insurance to USAA... not a CU, I guess, but similar. I can certainly say that my experience leads me to like them a lot better than the bank I'm with now.
    Jerry

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