Comparing Credit Unions with commercial banks: implications for public policy.

From: Journal of Commercial Banking and Finance | Date: January 1, 2006| Author: Mohanty, Sunil K. | Copyright information

ABSTRACT

Credit unions continue to serve an important purpose in US economy by providing financial services to low- and moderate-income individuals based on common bond of membership. However, since the passage of the Credit Union Membership Access Act of 1998 (CUMAA), credit unions have expanded the "membership base" far beyond the original intent of the Act. Some of them have grown aggressively to match the size of large community banks while offering many of the same ...

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