Who knew there “were” so many banks, what about the credit unions?

[Bubblesitter]

There have been a few cases of credit unions in bad shape, but generally they were not making risky investments like the Savings and Loans in the 70s and 80s and many current banks with bubble hangovers. The problem bank list is still enormous.

I’ve never worked for a credit union, and am proud to say I’ve never had a Bank account in traditional sense (excluding brokerage cash accounts).

http://piggington.com/i039ve_never_had_a_bank_account

Bubblesitter

[Bubblesitter]

Here’s the link to problem banks, on Calculated risk.

http://www.calculatedriskblog.com/2011/08/unofficial-problem-bank-list-at-988.html

As noted, all is not puppy dog and roses at all credit unions, problems with some.
Seems mostly limited to some corporate credit unions, e.g. ACME inc. Credit Union

http://www.calculatedriskblog.com/2010/09/national-credit-union-administration.html

[Bubblesitter]

Here’s the link to problem banks, on Calculated risk.

http://www.calculatedriskblog.com/2011/08/unofficial-problem-bank-list-at-988.html

As noted, all is not puppy dog and roses at all credit unions, problems with some.
Seems mostly limited to some corporate credit unions, e.g. ACME inc. Credit Union

http://www.calculatedriskblog.com/2010/09/national-credit-union-administration.html

[Bubblesitter]

Here’s the link to problem banks, on Calculated risk.

http://www.calculatedriskblog.com/2011/08/unofficial-problem-bank-list-at-988.html

As noted, all is not puppy dog and roses at all credit unions, problems with some.
Seems mostly limited to some corporate credit unions, e.g. ACME inc. Credit Union

http://www.calculatedriskblog.com/2010/09/national-credit-union-administration.html

[Bubblesitter]

Here’s the link to problem banks, on Calculated risk.

http://www.calculatedriskblog.com/2011/08/unofficial-problem-bank-list-at-988.html

As noted, all is not puppy dog and roses at all credit unions, problems with some.
Seems mostly limited to some corporate credit unions, e.g. ACME inc. Credit Union

http://www.calculatedriskblog.com/2010/09/national-credit-union-administration.html

[Bubblesitter]

Here’s the link to problem banks, on Calculated risk.

http://www.calculatedriskblog.com/2011/08/unofficial-problem-bank-list-at-988.html

As noted, all is not puppy dog and roses at all credit unions, problems with some.
Seems mostly limited to some corporate credit unions, e.g. ACME inc. Credit Union

http://www.calculatedriskblog.com/2010/09/national-credit-union-administration.html

[davelj]

There are about 8,000 credit unions (most of them really small – sub-$200 million in assets) and 7,000 banks and S&Ls in the country.

Generically, the credit unions didn’t get into as much trouble as small banks for one reason: they face severe restrictions on underwriting construction and development loans. The credit unions’ SFR portfolios are just as ugly as everyone else’s however. Virtually every small bank that fails this cycle will be as a result of one issue: too heavy a concentration in construction and development loans. It’s that simple. Had C&D loans been restricted to 15% of total loans the housing bubble would have been greatly muted. But, such is life…

[davelj]

There are about 8,000 credit unions (most of them really small – sub-$200 million in assets) and 7,000 banks and S&Ls in the country.

Generically, the credit unions didn’t get into as much trouble as small banks for one reason: they face severe restrictions on underwriting construction and development loans. The credit unions’ SFR portfolios are just as ugly as everyone else’s however. Virtually every small bank that fails this cycle will be as a result of one issue: too heavy a concentration in construction and development loans. It’s that simple. Had C&D loans been restricted to 15% of total loans the housing bubble would have been greatly muted. But, such is life…

[davelj]

There are about 8,000 credit unions (most of them really small – sub-$200 million in assets) and 7,000 banks and S&Ls in the country.

Generically, the credit unions didn’t get into as much trouble as small banks for one reason: they face severe restrictions on underwriting construction and development loans. The credit unions’ SFR portfolios are just as ugly as everyone else’s however. Virtually every small bank that fails this cycle will be as a result of one issue: too heavy a concentration in construction and development loans. It’s that simple. Had C&D loans been restricted to 15% of total loans the housing bubble would have been greatly muted. But, such is life…

[davelj]

There are about 8,000 credit unions (most of them really small – sub-$200 million in assets) and 7,000 banks and S&Ls in the country.

Generically, the credit unions didn’t get into as much trouble as small banks for one reason: they face severe restrictions on underwriting construction and development loans. The credit unions’ SFR portfolios are just as ugly as everyone else’s however. Virtually every small bank that fails this cycle will be as a result of one issue: too heavy a concentration in construction and development loans. It’s that simple. Had C&D loans been restricted to 15% of total loans the housing bubble would have been greatly muted. But, such is life…

[davelj]

There are about 8,000 credit unions (most of them really small – sub-$200 million in assets) and 7,000 banks and S&Ls in the country.

Generically, the credit unions didn’t get into as much trouble as small banks for one reason: they face severe restrictions on underwriting construction and development loans. The credit unions’ SFR portfolios are just as ugly as everyone else’s however. Virtually every small bank that fails this cycle will be as a result of one issue: too heavy a concentration in construction and development loans. It’s that simple. Had C&D loans been restricted to 15% of total loans the housing bubble would have been greatly muted. But, such is life…

[Author]

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