Credit Unions in Great Britain: Recent Trends and Current Prospects

11 Pages Posted: 7 Feb 2010

See all articles by Donal G. McKillop

Donal G. McKillop

Queen's University Management School

Ann-Marie Ward

Queen's University Management School

John O. S. Wilson

University of St. Andrews

Date Written: February 4, 2010

Abstract

Against the current backdrop of deteriorating economic and financial conditions we consider recent trends and current prospects for credit unions in Great Britain. We note that 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.

Keywords: credit unions, crisis, failure, regulatory change, risk

JEL Classification: G21

Suggested Citation

McKillop, Donal G. and Ward, Ann-Marie and Wilson, John O. S., Credit Unions in Great Britain: Recent Trends and Current Prospects (February 4, 2010). Available at SSRN: https://ssrn.com/abstract=1547685 or http://dx.doi.org/10.2139/ssrn.1547685

Donal G. McKillop

Queen's University Management School ( email )

25 University Square
Belfast, Northern Ireland BT7 1NN
Northern Ireland

Ann-Marie Ward

Queen's University Management School ( email )

25 University Square
Belfast, Northern Ireland BT7 1NN
Northern Ireland

John O. S. Wilson (Contact Author)

University of St. Andrews ( email )

North St
Saint Andrews, Fife KY16 9AJ
United Kingdom

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