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The Competitive Role Of Credit Unions In Small Local Financial Services Markets

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  • Robert M. Feinberg

Abstract

Although there is a considerable literature on the role of market structure in banking markets, no attention has been given to the impact of the competitive discipline provided by credit unions on consumer credit rates offered by banks. After presenting a theoretical framework for understanding the impact credit unions should be expected to have, this article analyzes a pooled cross-sectional, time-series sample with roughly 1,000 observations on relatively small United States markets, with the focus on explaining bank rates for two types of consumer loans. Results confirm the previously observed role of market structure and suggest a significant role for credit unions in disciplining the exercise of market power by banks. © 2001 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology

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File URL: http://www.mitpressjournals.org/doi/pdf/10.1162/00346530152480207
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Bibliographic Info

Article provided by MIT Press in its journal The Review of Economics and Statistics.

Volume (Year): 83 (2001)
Issue (Month): 3 (August)
Pages: 560-563

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Handle: RePEc:tpr:restat:v:83:y:2001:i:3:p:560-563

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Web page: http://mitpress.mit.edu/journals/

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Web: http://mitpress.mit.edu/journal-home.tcl?issn=00346535

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Cited by:
  1. Timothy H. Hannan, 2003. "The impact of credit unions on the rates offered for retail deposits by banks and thrift institutions," Finance and Economics Discussion Series 2003-06, Board of Governors of the Federal Reserve System (U.S.).
  2. Goddard, John & McKillop, Donal & Wilson, John O.S., 2008. "The diversification and financial performance of US credit unions," Journal of Banking & Finance, Elsevier, vol. 32(9), pages 1836-1849, September.
  3. Christian Weller, 2010. "Have Differences in Credit Access Diminished in an Era of Financial Market Deregulation?," Review of Social Economy, Taylor & Francis Journals, vol. 68(1), pages 1-34.
  4. Andew Cohen & Michael Mazzeo, 2004. "Market structure and competition among retail depository institutions," Finance and Economics Discussion Series 2004-04, Board of Governors of the Federal Reserve System (U.S.).
  5. Robert Feinberg, 2002. "Credit Unions: Fringe Suppliers or Cournot Competitors?," Review of Industrial Organization, Springer, vol. 20(2), pages 105-113, March.
  6. Tatom, John, 2005. "Competitive advantage: a study of the federal tax exemption for credit unions," MPRA Paper 4398, University Library of Munich, Germany.
  7. Joanne G. Tokle & Robert J. Tokle, 2002. "Factors Determining Credit Union Loan Rates in Local Markets," New York Economic Review, New York State Economics Association (NYSEA), vol. 33(1), pages 52-60.
  8. Kondo, Kazumine, 2012. "Do Credit Associations Put Competitive Pressure on Regional Banks in Japanese Regional Lending Markets?," MPRA Paper 38769, University Library of Munich, Germany.
  9. Robert J. Tokle, 2005. "The Influence of Credit Unions on Bank CD Rate Payments," New York Economic Review, New York State Economics Association (NYSEA), vol. 36(1), pages 57-64.
  10. Feinberg, Robert M. & Rahman, A. F. M. Ataur, 2001. "A causality test of the relationship between bank and credit union lending rates in local markets," Economics Letters, Elsevier, vol. 71(2), pages 271-275, May.
  11. Robert Feinberg, 2008. "Explaining the Credit Union Entry Decision, and Implications for Performance," Review of Industrial Organization, Springer, vol. 33(1), pages 81-91, August.
  12. Christian E. Weller & Amy Helburn, 2009. "Public Policy Options to Build Wealth for America’s Middle Class," Working Papers wp210, Political Economy Research Institute, University of Massachusetts at Amherst.
  13. David Ely & Kenneth Robinson, 2009. "Credit Unions and Small Business Lending," Journal of Financial Services Research, Springer, vol. 35(1), pages 53-80, February.
  14. John Goddard & Donal McKillop & John Wilson, 2009. "Which Credit Unions are Acquired?," Journal of Financial Services Research, Springer, vol. 36(2), pages 231-252, December.
  15. Bauer, Keldon, 2008. "Detecting abnormal credit union performance," Journal of Banking & Finance, Elsevier, vol. 32(4), pages 573-586, April.

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