JoeWras
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Sep 18, 2012
- Messages
- 11,718
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https://www.wsj.com/articles/banks-...77bl699crgg&reflink=desktopwebshare_permalink
I am concerned about the viability of many credit unions, and I'm not talking mega-credit unions like Navy Federal. I'm talking about the thousands of community CUs. They are also paying microscopic rates and one wonders if they can weather the storm.
https://www.wsj.com/articles/banks-...77bl699crgg&reflink=desktopwebshare_permalink
Well, it's about time. Am I supposed to feel bad? If so, I'm not.Depositors fled to the perceived safety of the titans of finance following a pair of bank failures last month. A raft of earnings this week will show just how costly the run was for everyone else.
Small and midsize U.S. banks lost hundreds of billions of dollars in recent weeks to their bigger peers and to money-market funds offering higher yields. That is likely to force many of them to increase the interest rates they are paying to avoid losing more customers.
I am concerned about the viability of many credit unions, and I'm not talking mega-credit unions like Navy Federal. I'm talking about the thousands of community CUs. They are also paying microscopic rates and one wonders if they can weather the storm.