Other securities services traditionally offered by banks include "sweeping" deposit funds into overnight investment vehicles, such as money market mutual funds, privately placing securities for customers, and providing transfer agency services to issuers and benefit plans. Banks have offered these services to their customers without significant concerns for years.
Credit unions account for more than 5 percent of total financial system assets, and have an extensive service foot print, reaching about one-third of the population. Some of the biggest credit unions have assets comparable to that of the smallest banks. A number of credit unions have taken on risky credit exposures and investments, which they do not have the capacity to properly address.