Re: Why are credit unions so much safer than banks?

Quote from: headingnorth on February 08, 2024, 07:46:40 PM

But I never heard anything about credit unions having such problems. Why is that?

credit unions are not big businesses with large customers. so you dont hear about it in media..
.. but

Quote from: https://www.fca.org.uk/news/news-stories/6-towns-credit-union-enters-administration

6 Towns Credit Union Limited was placed into administration on 5 September 2023 and has now stopped trading. James Sleight and Peter Hart of PKF Geoffrey Martin & Co have been appointed as joint administrators.

Quote from: https://www.bankrate.com/banking/credit-unions/list-of-failed-credit-unions/

Valwood Park Federal Credit Union, Carrollton, TX    01/20/2023    Active
Richmond City Employees Federal Credit Union, Richmond, IN    12/12/2022    Active
Mingo County Education Federal Credit Union, Williamson, WV    10/07/2022    Active
O. F. Toalston Federal Credit Union, Logan, WV    10/07/2022    Active
Pomona Postal Federal Credit Union, Pomona, CA    11/05/2021    Active
Empire Financial Federal Credit Union, Jackson, NJ    05/24/2021    Active
Edinburg Teachers Credit Union, Edinburg, Texas    03/26/2021    Active
C O Federal Credit Union, Charleston, SC    01/05/2021    Active
Southern Pine Credit Union, Valdosta, GA    06/11/2020    Released
Municipal Credit Union, New York    05/17/2019    Released
Mid East Tennessee Community Credit Union, Decatur, TN    04/23/2019    Merged
Beverly Bus Garage Federal Credit Union, Chicago    03/14/2018    Merged
Ukrainian Future Credit Union, Warren, MI    02/23/2018    Merged
Louisville Metro Police Officers Credit Union, Louisville, KY    12/15/2017    Closed
LOMTO Federal Credit Union, Woodside, NY    06/26/2017    Closed
Citizens Community Credit Union, Devils Lake, ND    06/23/2017    Merged
Riverdale Credit Union, Selma, AL    06/22/2017    Closed
Community United Federal Credit Union, Waycross, GA    04/20/2017    Merged
Shreveport Federal Credit Union, Shreveport, LA    04/13/2017    Closed
Melrose Credit Union, Briarwood, NY    02/10/2017    Closed
Valley State Credit Union, Saginaw, MI    11/09/2016    Closed
Cory Methodist Church Credit Union, Cleveland    02/04/2016    Merged
Clarkston Brandon Community Credit Union, Clarkston, MI    01/13/2016    Merged
Helping Other People Excel Federal Credit Union, Jackson, NJ    11/20/2015    Closed
Montauk Credit Union, New York    09/18/2015    Merged
Bethex Federal Credit Union, Bronx, NY    09/18/2015    Closed
New Bethel Federal Credit Union, Portsmouth, VA    04/30/2015    Closed
Montgomery County Credit Union, Dayton, OH    04/23/2015    Merged
Health One Credit Union, Detroit    05/16/2014    Closed
Parsons Pittsburg Credit Union, Parsons, KS    01/24/2014    Closed
Bagumbayan Credit Union, Chicago    12/12/2013    Closed
Mayfair Federal Credit Union, Philadelphia    11/01/2013    Closed
PEF Federal Credit Union, Highland Heights, OH    06/21/2013    Closed
First Kingdom Community Credit Union, Selma, AL    05/16/2013    Closed
NCP Community Development Federal Credit Union, Norfolk, VA    02/08/2013    Closed
Trinity Credit Union, Trinidad, CO    07/27/2012    Merged
Telesis Community Credit Union, Chatsworth, CA    03/23/2012    Closed
A M Community Credit Union, Kenosha, WI    02/17/2012    Closed
People for People Development Credit Union, Philadelphia    01/06/2012    Closed