Navigating the Choppy Seas of a Risky Business

Risk comes from all sides at credit unions. The cooperative nature of credit unions in particular can magnify the risk because the industry is so interdependent as they all quickly learned when the US Central, WesCorp and other corporates went south. Credit unions and the NCUA can work to reshape th...

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Bibliographic Details
Published in:Credit Union Times 2010-07, Vol.21 (28), p.4
Main Author: Cooke, Sarah Snell
Format: Article
Language:English
Subjects:
Credit unions
Deposit insurance
Risk management
Online Access:Get full text
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Summary:Risk comes from all sides at credit unions. The cooperative nature of credit unions in particular can magnify the risk because the industry is so interdependent as they all quickly learned when the US Central, WesCorp and other corporates went south. Credit unions and the NCUA can work to reshape the corporates in hopes of preventing the next crisis, but it will always come. Credit unions could better control what other institutions they were doing business with in a private deposit insurance pool, but those putting more money in would likely expect more control.
ISSN:1058-7764