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Wonder how it applies, if at all, to credit unions.
by jachee 4y ago
Wonder how it applies, if at all, to credit unions.
- mixdup 4y agoit does not, credit unions are not members of the FDIC. They are members of the NCUA, which serves the same purpose as the FDIC for credit unions
- bombcar 4y agoIf anything they’ll benefit slightly by being able to offer slightly higher rates. Though hopefully the total cost after everything is worked out is vanishingly small - otherwise we have a much larger problem.
- chernevik 4y agoIt does not, as they are far too small to be "systematically important". If they fail and their assets cannot support their deposits, their depositors will get a haircut. This will not go unnoticed by depositors. It's one of the clearer unfairnesses of this bad decision.