Why are some banks and credit unions struggling in Utah and around the nation?
Margins at large national banks, community banks and credit unions continue to be pressured. Each of these financial sectors has had to address problems of over leveraging and losses. For this reason, large national banks and some community banks have taken TARP capital funding. The large corporate credit unions that stand behind the local credit unions have had to have capital infusions from their members. At the heart of the situation is the fact that financial institutions in general are dealing with far too many problem loans. Bank of Utah has a well managed credit culture and resisted, for the most part, the troubled lending that has caused losses at other institutions.
Related Questions
- If bad loans have been a major cause of problems at banks and credit unions, how are problem loans affecting Bank of Utah?
- How do credit unions and banks in the MoneyAisle network handle joint applications or no-credit applications?
- Do credit unions offer all the services and types of accounts, which banks provide?
