Credit union loan rate determinants following the 2008 financial crisis |
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| Institution: | 1. Faculty of Commerce, Fukuoka University, 8-19-1 Nanakuma, Jonan-ku, Fukuoka 814-0180, Japan;2. Nottingham University Business School, University of Nottingham, Jubilee Campus, Nottingham NG8 1BB, United Kingdom;3. Kent Business School, University of Kent, Canterbury, Kent CT2 7PE, United Kingdom;2. School of Business Administration, Athens University of Economics and Business, Athens, Greece;3. Department of Economics, Lancaster University Management School, Lancaster, United Kingdom |
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| Abstract: | Previous studies show that a variety of institutional and market variables influence cross-sectional variation in the interest rates that credit unions charge on loans. This study examines the behavior of loan interest rates using nationwide credit union data for the fourth quarter of 2009 in the United States. Results from this sample of more than 6,700 individual credit unions corroborate earlier research indicating that credit union competition tends to suppress loan rates and that economies of scale exist at these financial intermediaries. In contrast to prior studies, however, credit unions with higher net worth ratios are found to charge higher interest rates on loans. |
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| Keywords: | Credit unions Interest rates Consumer lending Financial crisis |
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