Multiple common bond credit unions and the allocation of benefits

Keith Leggett and Yvonne Stewart ()

Journal of Economics and Finance, 1999, vol. 23, issue 3, 235-245

Abstract: Credit unions are cooperatively owned financial institutions, where input suppliers (savers) are also the consumers of the outputs (borrowers). A key issue is the allocation of benefits between savers and borrowers. Additionally, credit unions can add unrelated groups to their membership. If the orientation of unrelated groups differs from the core group, the allocation of benefits could be altered. Empirical evidence suggests that both single and multiple bond federal credit unions are saver oriented. Single bond credit unions have a stronger saver orientation than multiple bond credit unions. The study provides mixed evidence on the existence of a clientele effect. Copyright Springer 1999

Date: 1999
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DOI: 10.1007/BF02757708

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