Credit unions, as fiscally conservative member-focused non-profit institutions that distribute profits to their members, are surely safer than for-profit banks with return-hungry shareholders, right? That was my thought. Much to my surprise, however, my research found that the opposite is true statistically. In the last decade (April, 2013 – March, 2023), 126 federally insured credit unions (out of ~4,900) have failed and been taken over by the U.S. government, while 69 (out of ~8,300) federally insured banks have been taken over during that same time period. I’ve long been a fan and member of a number of credit unions and
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