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Australian Credit Unions And The Demutualization Agenda

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  • Kevin DAVIS

Abstract

ABSTRACT**: There is a strong prospect of widespread demutualization occurring in the Australian credit union industry in coming years. This paper explains the reasons for this phenomenon, identifies some potentially undesirable social consequences, and examines the relative merits of alternative types of demutualization process. It identifies a number of principles which warrant reflection in the design of legislation addressing demutualization processes.

Suggested Citation

  • Kevin DAVIS, 2007. "Australian Credit Unions And The Demutualization Agenda," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 78(2), pages 277-300, June.
    • Handle: RePEc:bla:annpce:v:78:y:2007:i:2:p:277-300
    DOI: 10.1111/j.1467-8292.2007.00335.x
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    References listed on IDEAS

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    1. Rasmusen, Eric, 1988. "Mutual Banks and Stock Banks," Journal of Law and Economics, University of Chicago Press, vol. 31(2), pages 395-421, October.
    2. Hart, Oliver & Moore, John, 1996. "The Governance of Exchanges: Members' Cooperatives versus Outside Ownership," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 12(4), pages 53-69, Winter.
    3. Andrew Greinke, 2005. "Imposing Capital Controls on Credit Unions: An Analysis of Regulatory Intervention in Australia," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 76(3), pages 437-460, September.
    4. David Mayers & Clifford Smith, 2002. "Ownership Structure and Control: Property-Casualty Insurer Conversion to Stock Charter," Journal of Financial Services Research, Springer;Western Finance Association, vol. 21(1), pages 117-144, February.
    5. Kevin Davis, 2001. "Credit Union Governance and Survival of the Cooperative Form," Journal of Financial Services Research, Springer;Western Finance Association, vol. 19(2), pages 197-210, April.
    6. repec:cep:stitep:292 is not listed on IDEAS
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    Cited by:

    1. Ameeta JAIN & Monica KENELEY & Dianne THOMSON, 2015. "Customer-Owned Banking In Australia: From Credit Union To Mutual Bank," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 86(3), pages 465-478, September.
    2. Anne Marie Ward & John Forker, 2017. "Financial Management Effectiveness and Board Gender Diversity in Member-Governed, Community Financial Institutions," Journal of Business Ethics, Springer, vol. 141(2), pages 351-366, March.
    3. Donal McKillop & John O.S. Wilson, 2011. "Credit Unions: A Theoretical and Empirical Overview," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 20(3), pages 79-123, August.
    4. Michael Adusei & Samuel Kofi Afrane, 2013. "The Impact Of Credit Union Financial Intermediation On Economic Growth: A Multi-Country Analysis," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 7(5), pages 71-78.
    5. Brown, Christine & Davis, Kevin, 2009. "Capital management in mutual financial institutions," Journal of Banking & Finance, Elsevier, vol. 33(3), pages 443-455, March.
    6. Francesc Relano, 2015. "Disambiguating the concept of social banking," Post-Print hal-01507875, HAL.
    7. Forker, John & Ward, Anne Marie, 2012. "Prudence and financial self-regulation in credit unions in Northern Ireland," The British Accounting Review, Elsevier, vol. 44(4), pages 221-234.
    8. Fabienne Fecher & Benoît Lévesque, 2008. "The Public Sector And The Social Economy In The Annals (1975–2007): Towards A New Paradigm," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 79(3‐4), pages 679-727, September.
    9. Elisabeta Pana & Sascha Vitzthum & David Willis, 2015. "The impact of internet-based services on credit unions: a propensity score matching approach," Review of Quantitative Finance and Accounting, Springer, vol. 44(2), pages 329-352, February.

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