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The impact of credit unions on the rates offered for retail deposits by banks and thrift institutions

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  • Timothy H. Hannan

Abstract

Because of the increasing significance of credit unions as potential competitors for consumer deposits, this paper examines the impact of the market presence of credit unions, variously measured, on the rates for three different types of consumer deposits offered by banks and thrift institutions. In contrast to previous studies, the sample employed covers the nation as a whole, incorporates all large urban areas, and employs survey data on deposit rates for a substantially larger number of institutions than previously employed. Despite circumstance that are argued to militate against the finding of a relationship, regression analyses yield positive coefficients of the measures of credit union presence, with statistical significance in a number of cases.

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Bibliographic Info

Paper provided by Board of Governors of the Federal Reserve System (U.S.) in its series Finance and Economics Discussion Series with number 2003-06.

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Date of creation: 2003
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Handle: RePEc:fip:fedgfe:2003-06

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Keywords: Credit unions;

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  1. Robert M. Feinberg, 2001. "The Competitive Role Of Credit Unions In Small Local Financial Services Markets," The Review of Economics and Statistics, MIT Press, vol. 83(3), pages 560-563, August.
  2. Lawrence J. Radecki, 1998. "The expanding geographic reach of retail banking markets," Economic Policy Review, Federal Reserve Bank of New York, issue Jun, pages 15-34.
  3. William R. Emmons & Frank A. Schmid, 1999. "Credit unions and the common bond," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 41-64.
  4. Robert Tokle & Joanne Tokle, 2000. "The Influence of Credit Union and Savings and Loan Competition on Bank Deposit Rates in Idaho and Montana," Review of Industrial Organization, Springer, vol. 17(4), pages 427-439, December.
  5. Calem, Paul S & Carlino, Gerald A, 1991. "The Concentration/Conduct Relationship in Bank Deposit Markets," The Review of Economics and Statistics, MIT Press, vol. 73(2), pages 268-76, May.
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Cited by:
  1. Evren Örs & Tara Rice, 2006. "Bank imputed interest rates: unbiased estimates of offered rates?," Working Paper Series WP-06-26, Federal Reserve Bank of Chicago.
  2. Örs, Evren & Rice, Tara, 2007. "Bank Imputed Interest Rates: Unbiased Estimates of Offered Rates?," CEPR Discussion Papers 6036, C.E.P.R. Discussion Papers.
  3. William R. Emmons & Frank A. Schmid, 2004. "When for-profits and not-for-profits compete: theory and empirical evidence from retail banking," Supervisory Policy Analysis Working Papers 2004-01, Federal Reserve Bank of St. Louis.
  4. 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.
  5. Robert DeYoung & Evren Örs, 2004. "Advertising and pricing at multiple-output firms: evidence from U.S. thrift institutions," Working Paper Series WP-04-25, Federal Reserve Bank of Chicago.
  6. Jeff Heinrich & Russell Kashian, 2006. "Credit Union to Mutual Conversion : Do Rates Diverge?," Working Papers 06-01, UW-Whitewater, Department of Economics.

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