The Mutation Of The British Credit Union Movement: A Critical Approach To Its Bankalisation Process

Michael Handrinos and Konstantinos Nikolopoulos ()

No 22, Working Papers from University of Peloponnese, Department of Economics

Abstract: Credit Unions in the United Kingdom had their custody transferred in 2002 from the Registry of Friendly Societies under the Financial Services Authority. This paper examines the reasons why such a move may eventually lead to the mutation of the British Credit Union movement from small co-operative financial organisations to medium-sized banks (the “bankalisation” process) in order to cover the de-mutualisation gap that was left in the financial market in the 1980s when most of the Building Societies became Public Limited Companies.

Keywords: Bankalisation; Credit Unions; Financial Services Authority; Organisational change and transformation. (search for similar items in EconPapers)
Pages: 11 pages
Date: 2008
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