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The Resource Credit Unions and the Common Bond

Credit Unions and the Common Bond

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Credit Unions and the Common Bond
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Credit Unions and the Common Bond
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Summary
A distinguishing feature of credit unions is the legal requirement that members share a common bond. This organizing principle recently became the focus of national attention when the Supreme Court and the U.S. Congress took opposite sides in a controversy regarding the number of common bonds (fields of membership) that could coexist within a single credit union. In this article, a model of credit union formation and consolidation is developed and simulated to examine the effects of common-bond restrictions on the performance of credit unions. The performance measures are based on participation rates among potential members and the operating costs of credit unions. Using a semiparametric econometric model and a large dataset drawn from federally-chartered occupational credit unions in 1996, the authors find that, for a given number of potential members, credit unions with multiple-group charters have higher participation rates. They also find that, for a given number of members, the operating costs of multiple-group credit unions are higher. Average operating costs at large credit unions, however, decrease as the number of members increases. The authors also find that local deposit-market concentration is related to participation rates and operating costs of credit unions
http://library.link/vocab/creatorName
  • Emmons, William R
  • Inter-university Consortium for Political and Social Research [distributor]
http://library.link/vocab/relatedWorkOrContributorName
Schmid, Frank A.
Label
Credit Unions and the Common Bond
Instantiates
Publication
Note
1214
Control code
ICPSR01214.v1
Governing access note
Access restricted to subscribing institutions
Label
Credit Unions and the Common Bond
Publication
Note
1214
Control code
ICPSR01214.v1
Governing access note
Access restricted to subscribing institutions

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