In Today's Environment, the Small Credit Union's Days Are Numbered
On May 20, I posted remarks on BRUEN Credit Union Blog (www.cbruen.com/blog) about the failure of a very small 213-member, $175,000-asset and, surprisingly, 50-year old credit union with a delinquency rate of 40%.
I subsequently received criticism from the Credit Union Times Editor-in-Chief Sarah Snell Cooke for making the following observation: "It is my opinion that there are credit unions that are too small to exist. How small? Guess I would start by finding ways to shutter anything less than $1 million and then raise the bar from there."