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The performance of customer-owned banks during the crisis

In: Finance in an Age of Austerity

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Abstract

This is a book in search of an alternative to the discredited investor-owned banks that have brought the rich countries into crisis and the world economy into a long period of austerity. It finds customer-owned banks – credit unions, co-operative banks, building societies – have hardly been affected by the crisis and continue to operate according to their organisational DNA: low-risk, close to the customer, underpinned by real savings, and still lending to SMEs to protect jobs and local economies. They are big business – in some countries with over 40% of the market – but networked in smaller, democratic societies whose origins go back to 1850s Germany.

Suggested Citation

  • ., 2013. "The performance of customer-owned banks during the crisis," Chapters, in: Finance in an Age of Austerity, chapter 6, pages 94-115, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:15074_6
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    File URL: https://www.elgaronline.com/view/9781781951835.00011.xml
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    Cited by:

    1. Tognetti, Alice & Grosse-Ruyken, Pan Theo & Wagner, Stephan M., 2015. "Green supply chain network optimization and the trade-off between environmental and economic objectives," International Journal of Production Economics, Elsevier, vol. 170(PB), pages 385-392.

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