From a post to the lbo-talk listserv, which I moderate: A big CU failed in South Florida a few years back. They’d been investing in subprime CDOs, actually. Another few failed in FL and out west – they had large member business ADC loan exposure to projects that stalled at the acquisition phase. Just browse the NCUA news center and marvel at the number of CUs placed into conservatorship or acquired by other CUs in NCUA-facilitated firesales I’ve seen stats saying 2/3s of credit unions don’t have any meaningful member loans, and… Read More