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Credit Union to Mutual Conversion : Do Rates Diverge?

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Author Info

  • Jeff Heinrich

    ()
    (Department of Economics, University of Wisconsin - Whitewater)

  • Russell Kashian

    ()
    (Department of Economics, University of Wisconsin - Whitewater)

Abstract

This study conducts a cross-sectional analysis of 175 depository institutions, assessing the impact on the interest rates charged on loan products and offered on savings products by the size of the institution, its liquidity, its net worth, its tax and salary payments, and its status as a for-profit institution, a credit union, or a converted credit union. We find that banks and converted credit unions have interest rates significantly less favorable for consumers than credit unions, suggesting that a credit union converting will result in adverse interest rate movements for its customers.

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File URL: http://www.uww.edu/documents/colleges/cobe/economics/wpapers/06_01_Hein_Kash.pdf
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Bibliographic Info

Paper provided by UW-Whitewater, Department of Economics in its series Working Papers with number 06-01.

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Length: 30 pages
Date of creation: Feb 2006
Date of revision:
Handle: RePEc:uww:wpaper:06-01

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Postal: Whitewater, WI 53190-1750
Phone: (414) 472-1361
Web page: http://www.uww.edu/cobe/economics/main.html
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References

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  1. Dario Focarelli & Fabio Panetta, 2003. "Are Mergers Beneficial to Consumers? Evidence from the Market for Bank Deposits," American Economic Review, American Economic Association, vol. 93(4), pages 1152-1172, September.
  2. Fabio Panetta & Dario Focarelli, 2003. "Are Mergers Beneficial to Consumers? Evidence from the Italian Market for Bank Deposits," CEIS Research Paper 10, Tor Vergata University, CEIS.
  3. Robert Feinberg, 2002. "Credit Unions: Fringe Suppliers or Cournot Competitors?," Review of Industrial Organization, Springer, vol. 20(2), pages 105-113, March.
  4. Allen N. Berger & Timothy H. Hannan, 1987. "The price-concentration relationship in banking," Research Papers in Banking and Financial Economics 100, Board of Governors of the Federal Reserve System (U.S.).
  5. 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.).
  6. Robert M. Feinberg, 2003. "The Determinants of Bank Rates in Local Consumer Lending Markets: Comparing Market and Institution-Level Results," Southern Economic Journal, Southern Economic Association, vol. 70(1), pages 144-156, July.
  7. 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.
  8. Aruna Srinivasan & B. Frank King, 1998. "Credit union issues," Economic Review, Federal Reserve Bank of Atlanta, issue Q 3, pages 32-41.
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  1. Credit unions in the United States in Wikipedia (English)

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