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On-Site Coverage: NCUA Predicts Large CU Failures in 2010

SAN DIEGO -- So far, the credit unions that have failed as a result of the economic downturn have had relatively few assets; however, the NCUA told San Diego Town Hall attendees today that will change next year.

By Heather Anderson | Updated on October 04, 2009

SAN DIEGO — So far, the credit unions that have failed as a result of the economic downturn have had relatively few assets; however, the NCUA told San Diego Town Hall attendees today that will change next year.

Board chair Debbie Matz said she’s “very concerned” about the losses credit unions are expected to suffer in 2010, particularly those that stem from “inordinate portfolio risk” in business and indirect lending.

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