Credit Union to Mutual Conversion : Do Rates Diverge?
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.
|Date of creation:||Feb 2006|
|Contact details of provider:|| Postal: Whitewater, WI 53190-1750|
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Web page: http://www.uww.edu/cobe/economics/main.html
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- 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.
- 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.
- 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.
- 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.).
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