We have the 5th credit union failure of the year, the Defense Logistics Federal Credit Union of Dover, New Jersey, which has been liquidated and taken over by the Pentagon Federal Credit Union (PenFed).

I still don’t know why the bank failures have flipped, with the credit unions outstripping commercial banks over the past few years.

Perhaps someone involved in banking regulation could give me a hint.

In any case, here is the Full NCUA credit union closing list.