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Credit unions are not public services. They are essentially banks where deposits are shares. A credit union could blunder on long term loans just as well as a c
by jojobas 4y ago
Credit unions are not public services. They are essentially banks where deposits are shares. A credit union could blunder on long term loans just as well as a commercial bank.
- iancmceachern 4y ago"By all measures, credit unions fail less often than similarly sized banks. During 1980–2018, asset-weighted credit union failure rates were far lower than those of banks: 0.10% vs. 0.22%" Source https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.researchgate.net/publication/337740920_Factors_contributing_to_failures_of_credit_unions_and_banks_1980-2018%23:~:text%3DBy%2520all%2520measures%252C%2520credit%2520unions,the%2520following%253A%2520%25E2%2586%2592%2520Less%2520capital.&ved=2ahUKEwjKt5uc2tn9AhXtD0QIHezEAQIQFnoECB8QBQ&usg=AOvVaw1ctuh7xojv8wI314l3wPr8 https://www.google.com/url?sa=t&source=web&rct=j&url=https:/...
- jojobas 4y agoSure, however, when a credit union takes a loss, it's worn by the depositors, not by shareholders for there are none.