3 ms·

How are credit unions different in that case?

• antoniuschan99 4y ago
  There are still credit union failures but less compared to bank failures. Credit Unions are owned by the members instead of shareholders and are non-profit but yea seems very similar to a regional bank. What else are different? I do wonder though, why SVB became so large compared whereas a credit union like First Technology Credit Unit which manages 15 billion in assets. Wouldn't a credit union be a better fit since they are local at its core. And credit unions serve the financial needs of a specific group of people who share a common interest or affiliation (in this case Tech/VC firms in Silicon Valley). There's also the 250k insurance but by NCUSIF instead of FDIC