TY - JOUR
T1 - Credit unions in Great Britain
T2 - Recent trends and current prospects
AU - McKillop, Donal
AU - Ward, Anne-Marie
AU - Wilson, John Ogilvie Stephen
PY - 2011/1
Y1 - 2011/1
N2 - Against the current backdrop of deteriorating economic and financial conditions, the authors consider recent trends and current prospects for credit unions in Great Britain. Although credit unions have experienced solid membership and asset growth, there are clouds on the horizon. Bad debts and loan arrears are on the rise and may be linked to recent legislative amendments and the increasing use by government of credit unions as a mechanism to achieve its financial inclusion goals. Whatever the reason, the deterioration in the loan book needs to be quickly addressed, or it will ultimately result in either more government bailouts or a stream of failing credit unions.
AB - Against the current backdrop of deteriorating economic and financial conditions, the authors consider recent trends and current prospects for credit unions in Great Britain. Although credit unions have experienced solid membership and asset growth, there are clouds on the horizon. Bad debts and loan arrears are on the rise and may be linked to recent legislative amendments and the increasing use by government of credit unions as a mechanism to achieve its financial inclusion goals. Whatever the reason, the deterioration in the loan book needs to be quickly addressed, or it will ultimately result in either more government bailouts or a stream of failing credit unions.
U2 - 10.1080/09540962.2011.545545
DO - 10.1080/09540962.2011.545545
M3 - Article
SN - 0954-0962
VL - 31
SP - 35
EP - 42
JO - Public Money & Management
JF - Public Money & Management
IS - 1
ER -
