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How does creditor health affect the pass-through of monetary policy to households? Using data on the universe of U.S. credit unions, I document that creditor asset losses increase the sensitivity of consumer credit to monetary policy. Identification exploits plausibly exogenous variation in asset losses and high-frequency identification of monetary policy shocks. Weaker lenders can respond more if they face financial frictions that easing alleviates. The estimates imply constraints on monetary policy become more costly in financial crises featuring creditor asset losses and that an additional benefit of monetary easing is that it weakens the causal, contractionary effect of asset losses. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online [ABSTRACT FROM AUTHOR]

Background: Improving neighborhood walkability is critical for sustainable and livable urban development and is associated with increased physical activity. The Neighborhood Environment Walkability Scale-Abbreviated (NEWS-A) is a tool for assessing neighborhood walkability among adults. Currently, no Arabic version is available for this important walkability scale. Objective: To translate the NEWS-A to Arabic, culturally adapt, and pre-test it for adults. Methods: The NEWS-A was translated and culturally adapted using Crosscultural Survey Guidelines and then pre-tested using 65 households selected randomly from the neighborhoods of three districts in Riyadh. After answering the survey, 55 participants took part in a semi-structured cognitive interview, which sought their understanding of the words in the Arabic questionnaire, the clarity of each item, and their suggestions for improvement. Results: Translation and adaptation of NEWS-A to Arabic resulted in adding two items (mosque and healthcare center) to section B of the scale (stores, facilities, and other things in your neighborhood) and one related item to section C (access to services). The total individual items became 57 instead of the original 54 items in the English version. Also, we added "ATM machine" to item 14 (Bank/credit union) in section B. In addition, the overall results of the cognitive interview showed that most of the participants understood the intended meaning of the questionnaire (99.5%). Further, 99.8% of the respondents stated that the items were not difficult to comprehend, while 100% of the sample indicated that the sentences were comfortable and not sensitive to them. Conclusion: Translating, adapting, and pre-testing the NEWS-A resulted in retaining all the original items and adding three additional items. The Arabic NEWS-A provides an important tool for future research on neighborhood environment walkability among adults. [ABSTRACT FROM AUTHOR]

Irrespective of the promising opportunity to improve profit efficiency by at least 73%, microfinance institutions operating in Sub-Saharan Africa are efficient only for 27%, far below the average value. The conclusion is drawn after analyzing the profit efficiency of the microfinance institutions using the stochastic frontier approach applied to data obtained from 128 microfinance institutions operating in 34 Sub-Saharan African countries. The study results suggest the presence of uniform profit efficiency experience across time among microfinance institutions. Microfinance institutions operating in low-income countries and credit union form microfinance are economically more efficient than their counterparts. Furthermore, the profit efficiency of microfinance institutions is significantly affected by total assets, cost per loan, loan per staff, legal status, and the county's income group of microfinance. Notably, the profit efficiency of microfinance institutions is adversely affected by the presence of female borrowers and female loan officers suggesting that gender diversity plays a role in the efficiency of microfinance institutions. Finally, we recommend that the managing body of microfinance work more on improving labor efficiency, earning asset utilization, loan collection efficiency, women's involvement and the hottest technology implementation. [ABSTRACT FROM AUTHOR]

Credit union is considered as an alternative solution for global poverty and financial inclusiveness for social development. However, to achieve this goal, first and foremost a credit union must be sustainable. The purpose of this paper is to provide a systematic literature review on the key determinants of sustainability of credit unions and its measurements through comprehensive literature search and assessment based on the PRISMA-P guidelines. The findings reveal standard quantitative measures such as operations of self-sufficiency ratio, financial sustainability score, return on assets and pearl index (two studies qualitatively assessed governance structure and membership rate as measures). Additionally, key factors such as efficiency, loan management factors, deposit mobilization, portfolio at risk, credit risk, regulatory environment, and asset factors are significant determinants of sustainability of credit unions. The findings suggest a great need for complementarity of role and responsible conduct of the key stakeholders (members), staff, management and enabling regulatory environment for sustainable credit union. [ABSTRACT FROM AUTHOR]

This Special Issue is based on a selection of papers initially presented at the conference on "Resilience and the Third Sector" (Institute of Public Sector Accounting Research, University of Edinburgh, November 2022). The third sector is pervasive in most societies and makes a distinctive and widely‐recognized contribution to the public good by building social capital, frequently affording a foundation for social cohesiveness. However, it is a fragile sector that is significantly affected by crises (the slings and arrows of outrageous fortune). These have the potential to curtail the capacity of third‐sector organizations (TSOs) to deliver societal benefits and, in the most extreme cases, even threaten their survival. Given this, the resilience of TSOs (albeit this term has multiple layers and manifold meanings) is critical. This paper explores a range of connotations linked to third‐sector resilience and explores contemporary evidence (including the papers in this Special Issue) as to how the sector identifies, manages, and learns from crises. In addition, it provides a brief outline research agenda as a basis for encouraging researchers to focus on resilience in TSOs and enhance knowledge. It is argued that more rigorous, evidence‐based research of this nature has the potential to positively influence practice in the sector, as well as policy formulation by government and others who steer TSOs. [ABSTRACT FROM AUTHOR]

This paper examines financial cooperatives (credit unions) in Ireland and their response to COVID‐19. The paper offers two contributions. The first is the Cooperative Resilience Framework, which highlights the importance of iterative, heuristic responses in building capabilities that enable routine‐based responses. These responses, in turn, avoid and absorb the effects of disruption in subsequent similar crises. The second contribution is empirical, demonstrating the how of resilience by offering a better understanding of how the credit unions' collective actions created dynamic, agile responses that helped them to "bounce forward" after the crisis. Key themes identified include agility, strong social relationships, and decentralized decision‐making (empowerment). [ABSTRACT FROM AUTHOR]

Federal regulators in 2010 amended lending rules to allow federal credit unions (FCU) to originate short‐term, small‐dollar amount loans, with an annual percentage rate of up to 1000 basis points above the otherwise imposed interest rate ceiling of 18 percent. The purpose of the change in policy was to allow FCUs the ability to provide their members with an alternative to payday loans. We find the decision to originate these higher‐interest loans is primarily influenced by the characteristics of a credit union's environment. Credit unions located in minority neighborhoods and in markets with fewer traditional financial services are more likely to participate in the payday alternative loan program. Participation in the program is shown to improve earnings performance without adversely affecting participants' loan quality. These results suggest credit unions can provide lower‐priced alternatives to payday loans that are beneficial to members and their credit unions. [ABSTRACT FROM AUTHOR]

Collaboration in interorganizational networks requires specific governance choices to align participants with collective goals. However, these choices often fail to mitigate conflicts and may catalyze tensions that lead to disaffiliation. This study investigates four critical tensions identified in existing literature: (1) efficiency versus inclusion in decision-making; (2) flexibility versus stability; (3) internal versus external legitimacy; and (4) unity versus diversity. Through a case study of a credit union that disaffiliated from a cooperative network, we explore how these tensions manifest and their repercussions on both the network's functionality and the behavior of its members. Our findings reveal that such governance tensions can be harmful both to the network and to the participating organizations. Tensions between unity and diversity, stability and flexibility, and external and internal legitimacy can compromise the effectiveness of the network and even hinder participating organizations in conducting their business. In extreme situations, these tensions contribute to the strategic decision to disaffiliate. This research extends theoretical understanding by delineating the specific impact of governance tensions on exit decisions within interorganizational networks. [ABSTRACT FROM AUTHOR]

Compared to C corporation banks, S corporation banks and credit unions are considered tax-exempt institutions, with credit unions receiving the greatest tax benefit. Institutions can choose to pass this benefit onto customers in the form of higher deposit rates and lower loan rates. We test this hypothesis by analyzing a dataset of 11 distinct deposit and loan products over 15 years and compare interest rates offered by depository institutions partitioned into three size groups. Overall, our results indicate credit unions offer higher deposit and lower loan rates compared to commercial banks, particularly for timed deposits (CDs), money market accounts, auto loans, and fixed unsecured loans. In contrast, S banks and C banks offer similar interest rates on most deposit and loan products. These findings generally hold across all size groups and differences become more pronounced when comparing larger credit unions to commercial banks. Notably, credit unions in the large size group offer better interest rates to customers for all products analyzed. [ABSTRACT FROM AUTHOR]

Drawing on techniques more commonly used to study changes within families over time, this paper highlights how holistic life course methods can help scholars conceptualize the dynamic nature of local built environments and measure impacts for families and communities. I use a novel dataset on the historical availability of banks, credit unions, and alternative financial services (AFS) between 2003 and 2015 to classify neighborhoods by their financial service trajectories using sequence and cluster analyses. I identify six distinct trajectories of financial service availability over the 13-year period; neighborhoods in these trajectories differ in terms of their socioeconomic and demographic characteristics. Descriptive multivariate analyses confirm that trajectories are linked to community outcomes at the end of the period; tracts exposed to AFS at some point over the 13 years are associated with higher predicted end-of-period poverty rates compared to both tracts that are only exposed to banks and credit unions and tracts that are chronic financial service deserts. Extensions of this approach to other aspects of the built environment are discussed. [ABSTRACT FROM AUTHOR]

In the process of implementing the principles of credit union, credit union certainly focuses on the importance of realizing social and Human Development. (World Council of Credit Union's (WOCCU), 2007). In achieving this goal, the Indonesian credit union is required to implement the provisions of the Ministry of Cooperatives and SMEs on the implementation of Cooperative Health Level examination No. 9 of 2020, the research Model used is an instrumental case study, this is used to make it easier for researchers to review the data on cooperative health examination results for 3 (three) years (Amir H, 2020). For the risk profile indicator, it is good that can be done by CU Madani is to continue to mitigate periodically if the discovery of risks that occur so that the small risk does not become a big risk. Provision of briefing to employees before the service needs to be applied so that events that may have not been resolved yesterday can be discussed and find a solution together. [ABSTRACT FROM AUTHOR]

Copyright of Dilemas Contemporáneos: Educación, Política y Valores is the property of Dilemas Contemporaneos: Educacion, Politica y Valores and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Firm structure affects incentives and performance. We document significant differences in subprime lending between banks and credit unions prior to and during the Great Recession. In 2006, 23.6% of mortgages from commercial banks were subprime versus only 3.6% of mortgages from credit unions. Moreover, banks were more likely to fail, and had higher delinquency and net charge-off ratios immediately following the financial crisis. Our empirical models control for important differences between credit unions and banks including firm-level characteristics, borrower-level characteristics, and state-level economic conditions. We argue that the remaining difference captures the effects of credit unions' nonprofit and cooperative structure, which encourages them to internalize the utility of their customer-owners. Our findings explain why credit unions often appear more risk averse relative to commercial banks, a result with important research and policy implications. (JEL G12, G31) [ABSTRACT FROM AUTHOR]

This study aims to analyze the benefits of developing Knowledge Management strategies in an effort to improve the performance of MSMEs. Another aspect that receives attention in this paper is the role of credit cooperatives and the government as a catalyst for a joint movement to improve and strengthen the role of MSMEs in the regional economy. The method used is descriptive-qualitative with a literature study approach. The author tries to explore various sources related to the material of this writing. From the results of the literature study, it was found that the implementation of knowledge management needs support from credit cooperatives and local governments. The cooperative is a joint forum for MSME players to help each other in reducing various costs in the MSME business process. Meanwhile, the government is an important entity in ensuring the implementation of various government programs for the empowerment of cooperatives and MSMEs and ensuring that the implementation of various regulations relating to MSMEs is carried out carefully and on target. [ABSTRACT FROM AUTHOR]

Audits are essential because of the separation of ownership and control in modern economies. Shareholders or owners delegate resources to management in order to enhance their wealth under this arrangement. Therefore, they want the agents to provide authentic, precise, and impeccable reports. Therefore, research evaluated the effect of auditor independence on the performance and the moderating effect of firm size on the relationship between auditor independence and the performance of deposit-taking SACCOs in Kenya. The study was based on Agency theory. The study used a descriptive survey research technique. The study used primary data collected using structured questionnaire. A sample size of 223 was selected by a simple random sampling method from a target of 504. Descriptive and inferential statistics were used to examine the data using the SPSS 26 software. The R2 of 0.512 suggests that 51.2% of the variability in the financial performance can be accounted for by the auditor's independence. Firm Size increased the R2 to 0.714 an indication that it is a significant moderator on the relation between internal audit independence and performance. For each one-unit rise in Sacco size, the impact of Auditor's Independence on financial performance increases by 0.222 units substantially (P=0.000). The study concluded that Sacco size has a significant moderator in this study. The study recommended that Saccos should tailor their strategies and internal audit processes based on their size. Larger Saccos may benefit from more robust auditor independence measures and closer scrutiny of financial performance indicators. [ABSTRACT FROM AUTHOR]

To illustrate communities of care in conservation, this essay provides three brief examples of campaigns in rural fishing communities in Indonesia. Based on long term fieldwork, we illustrate how the non-profit environmental organization Rare has trained campaign managers to develop community-based programs that promote people's well-being in relationship to their environments and communities through nutrition, financial stability, education, and collective engagement. In numerous campaigns across fishing communities in Indonesia, campaign managers work together with community members, and especially fishers, to develop marine protected areas or managed reserves with access that function as community fisheries, savings clubs or micro-credit unions, and fishery cooperatives in which fishers determine rules and regulations that community members agree upon. These approaches create a network of care that embodies the Indonesian term, semangat [spirit]. [ABSTRACT FROM AUTHOR]

The purpose of the research was to analize the COVID-19 impact on the financial statements of the Ecuadorian credit union of segment four, considering a period of four years (2019 to 2022) identifying variations in the values of their accounts. To carry out this research, was analyzed a sample of 95 cooperatives that provided continuous financial data to the Superintendency of Popular and Solidarity Economy during the period analyzed. The methodological approach applied was qualitative-quantitative, relational transversal, causal, bibliographic and exploratory. Analytical and descriptive methods were applied, using financial analysis tools supported by horizontal and vertical analysis to understand the percentage variation and proportional representation of the accounts in the financial statements studied. The results revealed that, in 2020, assets experienced a significant increase of 12.90% and liabilities also increased compared to the previous year, reaching a total of 13.51%. However, the income statement reflected a 10% decrease in revenue, as well as a considerable 64.08% reduction in profit for the year. These findings highlight that the most significant impact derived from the pandemic was evident in the first year (2020), especially about income and profit. [ABSTRACT FROM AUTHOR]

This study verified the existence of a non-linear relationship between diversification and the performance of Brazilian credit unions by analyzing panel data from 455 credit unions from June 2012 to December 2019. Through three regression models, estimated by the Systemic Generalized Method of Moments, it was identified that diversification has a non-linear U-shaped relationship with performance. This result demonstrates the existence of a minimum point for diversification, from which increases in diversification of financial products would provide positive effects on performance. This study stands out for bringing a curvilinear model for diversification in credit unions. This finding facilitates the understanding of which level of diversification is beneficial for the performance of credit unions, in addition to favoring the formation of strategies and analysis of the implementation of new financial products in credit unions. [ABSTRACT FROM AUTHOR]

Purpose: To identify the determining factors of Open Membership in Brazilian credit unions between 2016 and 2020. Methodology: A logistic regression model was used to estimate these factors. The analysis considered both specific internal variables of the cooperatives (age, asset size, number of members, and affiliation to systems) and variables representing the macroeconomic environment in which these institutions operate (municipal development index, population size in municipalities with service points (PACs) and cooperative headquarters). Results: The main results indicate that a lower population size in the municipalities containing the cooperative headquarters and PACs increases the probability of Open Membership. Additionally, cooperatives with a larger number of members and assets also have a higher likelihood of adopting Open Membership. Contributions of the Study: The study highlights the predominance of cooperatives with Open Membership in smaller and less developed municipalities, reinforcing the role of these cooperatives in social inclusion, reduction of inequalities, and provision of financial services and credit to the population in these locations. Moreover, the results provide valuable insights for policymakers, financial institutions, and cooperatives interested in promoting socioeconomic development and equity in underserved communities by the financial system. [ABSTRACT FROM AUTHOR]

Purpose: This research aims to analyze whether credit unions manage their accounting results in order to smooth them through the provision for doubtful accounts (income smoothing), from a default perspective. Methodology: The sample reaches 938 unique cooperatives considering the period from December 2010 to December 2018, with data from the Central Bank of Brazil, tested using the multiple regression statistical technique, in quarterly panels. Results: The variation in the stock of credit operations and the adjusted net income were not statistically significant in the model, however it was not possible to accept the hypothesis that credit unions use the allowance for loan losses (PCLD) as a mechanism for managing results. The interest rate implicit in the result of income from credit operations was significant, and therefore related to the PCLD variation, while the condition of free admission did not show statistical significance. The variation in default was significant in the model, with a negative coefficient, implying consistency with the earnings management hypothesis, since in a scenario of higher default (risk) the relationship is negative and, therefore, PCLD levels are lower, avoiding potential negative results. Contributions of the Study: The results indicate the absence of earnings management by PCLD in the sample and period, contributing to the discussion of the relationships between earnings management variables. This enables credit unions to reflect on their internal corporate governance structure. In addition, the evidence contributes to the progress of the literature on earnings manipulation in credit unions, for which there are few studies available and play an important role in the Brazilian market, ensuring funding flows to economic sectors not served by traditional banking institutions. [ABSTRACT FROM AUTHOR]

Purpose: To identify the determining factors of Open Membership in Brazilian credit unions between 2016 and 2020. Methodology: A logistic regression model was used to estimate these factors. The analysis considered both specific internal variables of the cooperatives (age, asset size, number of members, and affiliation to systems) and variables representing the macroeconomic environment in which these institutions operate (municipal development index, population size in municipalities with service points (PACs) and cooperative headquarters). Results: The main results indicate that a lower population size in the municipalities containing the cooperative headquarters and PACs increases the probability of Open Membership. Additionally, cooperatives with a larger number of members and assets also have a higher likelihood of adopting Open Membership. Contributions of the Study: The study highlights the predominance of cooperatives with Open Membership in smaller and less developed municipalities, reinforcing the role of these cooperatives in social inclusion, reduction of inequalities, and provision of financial services and credit to the population in these locations. Moreover, the results provide valuable insights for policymakers, financial institutions, and cooperatives interested in promoting socioeconomic development and equity in underserved communities by the financial system. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Economia e Sociologia Rural is the property of Sociedade Brasileira de Economia e Sociologia Rural and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper analyzes the 2023 amendment to the Act on Credit Unions of 9 November 2009 using dogmatic and comparative methods. First, the author considers membership of partnerships in credit unions in the context of the requirement of a common bond for membership. Second, the author analyzes the legal status of investor shares, conditions of dividend payment on their basis, as well as their termination. In conclusion, the author indicates that Polish regulation on membership of partnerships requires establishing multiple common bond credit unions and that restrictions for holders of investor shares in credit unions are similar in Poland and the UK. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Contabilidade & Controladoria is the property of Revista de Contabilidade & Controladoria RC & C and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study aims to determine the welfare of members of the Bererod Gratia CU Cooperative and Madani Cooperative KSP through governance and CSR dimensions mediated by performance. The questionnaire concluded that the welfare of cooperatives depends on good and sustainable governance and CSR mediated by professional performance. Good Corporate Governance is manifested in transparency, accountability, accountability, independence, equality and fairness in every financial transaction, the level of commitment of the management, the quality of cooperative work, and decision making involving all members. Research also shows the existence of cooperative social responsibility for the welfare of members and the surrounding community which has a positive influence in the form of social, economic, environmental, obedience to the law, and healtheducation. Finally, research shows that quality professional performance by having work motivation, responsible financial flexibility, a conducive work environment, opportunities for self-development, strong teamwork, and sustainable financial stability can help ensure the welfare of cooperative members and the sustainability of the cooperative. The results showed that both cooperatives have succeeded in working on the welfare of their members. [ABSTRACT FROM AUTHOR]

Financial inclusion has gained prominence as a critical element for sustainable development and inclusive growth. Saving and Credit Cooperative Societies (SACCOs) in Kenya play a vital role in providing financial services to their members, particularly those who are underserved by traditional banking institutions. However, limited access to financial services remains a significant challenge. This conference paper investigates how the adoption of digital financial services influences financial inclusion among members of saving and credit cooperative societies in Kenya. Survey data were collected from 334 randomly selected SACCO members. This study employed probit regression analysis to assess the hypotheses developed. The findings of the research support the hypothesis that the adoption of digital financial services positively influences financial inclusion among SACCO members. The analysis revealed that the implementation of digital financial services (DFSs) has significantly expanded financial access for previously underserved populations. Members now have convenient and efficient channels to save, borrow, and manage their finances, leading to increased economic empowerment and reduced inequalities. Moreover, the adoption of digital financial services has streamlined SACCO operations, improving efficiency, transparency, and accountability. This has aided SACCOs in serving their members' financial needs more effectively. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Estudios Cooperativos is the property of Universidad Complutense de Madrid and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The failure of several U.S. regional banks early in 2023 underlined Canada's reputation as home to a resilient banking sector where federal policymakers guard their jurisdictional responsibility over banking against populist impulses and trade off competition for financial stability. This article argues that conventional explanations for this observed stability are incomplete because they omit any discussion of federal policies that shaped the growth of a $550 billion provincially based credit union system. This article reconciles the resulting puzzle by showing how policymakers accommodated credit unions and used them to channel populist impulses but within the bounds of over-arching financial stability concerns. La faillite de plusieurs banques regionales americaines au debut de 2023 a fait ressortir la reputation du Canada comme etant un pays au secteur bancaire resilient, ou les decideurs federaux protegent leurs competences en matiere bancaire contre les elans populistes et sacrifient la concurrence au profit de la stabilite financiere. Cet article soutient que les explications classiques de cette stabilite observee sont incompletes de par le fait qu'elles omettent toute discussion sur les politiques federales qui ont forge la croissance d'un systeme provincial de cooperatives de credit de 550 milliards $. Cet article ajuste le casse-tete qui en resulte en montrant comment les decideurs ont repondu aux besoins des cooperatives de credit et les ont utilisees pour canaliser les elans populistes, mais dans les limites des preoccupations ultimes de stabilite financiere., INTRODUCTION Having avoided the crisis episodes common in the United States, Canada's banking sector has a well-earned global reputation for stability (Bordo et al., 2015; Calomiris & Haber, 2014). The [...]

This article evaluates the effectiveness of internal control processes in savings and credit unions in the Tambo canton using the COSO model. The research findings indicate that the internal control processes in these credit unions are effective, demonstrating commitment, responsibility, integrity, common objectives, communication, and evaluation among the workers. The study emphasizes the importance of commitment, communication, and evaluation in ensuring reliability and highlights the significance of trustworthy and reliable internal control mechanisms in fostering integrity and responsibility within organizations. The article also discusses the importance of internal control in credit unions, explores different methods for evaluating internal control, and highlights the benefits it provides. The study concludes that the internal control system of these credit unions is generally effective and emphasizes the importance of continuous evaluation and corrective measures to maintain efficiency. [Extracted from the article]

We engage parametric and non‐parametric approaches to analyze unbalanced data (2012–16) from 225 credit unions in Ghana. The non‐parametric analysis involves using data envelopment analysis to assess the technical efficiency of the credit unions. We show that most of them are not technically efficient. The average five‐year overall technical efficiency and pure technical efficiency scores of a credit union are 0.87 and 0.91 respectively. Targeted at inquiring whether manager bonding significantly connects with the technical efficiency of credit unions, the parametric analysis which involves the use of probit and logit regression techniques, shows that, generally, the bonding of managers hurts the technical efficiency of credit unions. We are, thus, led to the conclusion that bonding of managers may not be in the best interest of credit unions in Ghana. [ABSTRACT FROM AUTHOR]

Purpose: The study aims to develop a holistic model identifying the constructs that impact customer loyalty in retail banking and introduce product type as a moderating variable to the model. Design/methodology/approach: A conceptual model of customer loyalty is introduced and empirically tested with 416 valid samples obtained from Australian retail banking customers. The data were analysed using partial least squares structural equation modelling and multigroup analysis. Findings: This study confirms the moderating effect of high- and low-involvement products on the relationship between customer loyalty and satisfaction, trust, service quality, commitment and perceived value. Surprisingly, the effect of satisfaction on loyalty was much stronger with low-involvement product types and the effect of commitment on loyalty was much stronger with customers who utilise high-involvement products. Research limitations/implications: The study uses a sample population in Australia who utilise one of the top four banks and investigates three product types. Further research could expand the product selection and include customers who use credit unions and other banks not in the top four categories. Originality/value: This study is the first to confirm the moderating effect product type has on the customer loyalty relationship in retail banking in regard to high- and low-involvement product categories. The research provides a deeper understanding of the factors that influence customer loyalty and identifies which types of products influences customer loyalty the most. Additionally, this study highlights the importance of understanding the different needs and priorities of customers using different product types in order to effectively influence their loyalty. [ABSTRACT FROM AUTHOR]

From its inception, the Federal Reserve has operated payment systems that let banks move money for their customers. Checks, wire transfers, and electronic consumer payments all happen thanks to the Federal Reserve. Congress by statute specified which banks get access to the Fed’s payment services. For more than a century, the Federal Reserve provided services to all legally eligible banks. But when the Federal Reserve received requests for payments access from a cannabis-focused credit union and a cryptocurrency custody bank (both of whom are legally eligible), it denied them. The Fed also issued sweeping guidelines claiming discretion to conduct risk vetting and deny bank requests. These guidelines apply to all banks and reverberate far beyond cannabis and crypto. This Article examines whether the Federal Reserve’s payments discretion is as great as it now claims—a question that has been raised in five recent cases, but never answered. It concludes the Fed has overstepped. The language and structure of the Federal Reserve Act require that the Federal Reserve provide payment services to all eligible banks. In support of this statutory interpretation, the Article excavates long forgotten legislative history and more than a century of sometimes hidden Federal Reserve payments practices. It shows that although the Federal Reserve has some discretion over the payments it processes and terms under which it offers it payments services, the Fed’s discretion is not so broad that it can deny access to legally eligible banks. If the Fed wants to exclude banks, it should ask Congress to change the law. [ABSTRACT FROM AUTHOR]

Purpose: This study looks at whether credit unions, a type of microfinance, increase or decrease poverty in Cameroon from 2004 Q1 to 2021 Q4. Method/design: The fully modified ordinary least square, dynamic ordinary least square, and conical co‐integration is applied. Findings: The findings reveal a long‐term association between credit union measures and poverty levels. The results indicate that the number of credit unions, the number of commercial bank branches, and credit to the private sector negatively relate to poverty levels. This implies that as the number of credit unions increases, the poverty level increases as the credit unions tend to exploit the poor population. Outstanding deposits positively impact poverty levels, which imply that members' deposits alleviate poverty. Research implications: The government should refurbish the existing programs to enhance credit unions' activities to focus more on banking the poor population especially in remote areas. The credit unions should increase deposit mobilization from the public to empower individuals and businesses. The government should regulate the number of credit unions being created to limit exploitation. The government should intervene to ensure that credit unions' policy regarding lending, interest rates, and loan recovery procedures are mutually agreed upon by the parties. Originality/novelty: Limited studies used secondary data focusing on credit unions. The studies give conflicting results: Some studies reveal that microfinance banks positively affect poverty reduction. Some indicate negative effects of microfinance on poverty reduction. Others show that microfinance institutions do not significantly influence poverty reduction. Different opinions exist among depositors and borrowers of credit unions concerning poverty alleviation. Some credit union members hold that credit unions increase poverty, while others argue that credit unions alleviate poverty. [ABSTRACT FROM AUTHOR]

One of the main limitations of Carroll Pyramid Model is that it does not consider the differences in the dynamics of each business sector; nor has there been an adequate theoretical justification of the relative relevance of each of the four dimensions that compose it. This study explores the Social Responsibility practices reported by Credit Unions from the Carroll's Pyramid for a) establishing what type of information (economic, legal, ethical or discretionary) they are privileging in their Social Balance Sheet reports and b) recognizing to what extent there are differences in the way the model is expressed in this economic sector. To accomplish this, a qualitative research study was conducted through a content analysis of the social balance reports of 20 Colombian Credit Unions. The results show that the Carroll's Pyramid can adopt another type of order in the dimensions that compose it (economic, legal, ethical and discretionary), depending on the economic sector being studied or the type of organization being explored, however, differences found regarding Carroll's model were not radical as the differences found in other research which found a fully inverted pyramid. These findings pose challenges for cooperative organizations regarding compliance with the 2030 agenda and the mandatory annual report of Social Balance Sheet in Colombia. [ABSTRACT FROM AUTHOR]

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In this essay, I examine cooperative entrepreneurship's role in driving digital organizational change in a Southern California credit union that caters to a mobile university population. Drawing on Joseph Schumpeter's interpretative approach to entrepreneurship, I highlight the pivotal role of an innovative CEO in combining a new technology, AI chatbots, with the credit union's existing technologies to create a new means of production in a contact center: AICCs or Artificial Intelligence Contact Center Agents. I extend Schumpeter's theory by showing both how future-back thinking can generate ideas for new methods of production, and how acts of translation can help align these methods with local organizational values, overcoming resistance to change. I suggest that such combinatorial activity can help credit unions to sustainably compete against a new breed of financial technology companies known as fintechs. [ABSTRACT FROM AUTHOR]

Copyright of GeSec: Revista de Gestao e Secretariado is the property of Sindicato das Secretarias e Secretarios do Estado de Sao Paulo (SINSESP) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of GeSec: Revista de Gestao e Secretariado is the property of Sindicato das Secretarias e Secretarios do Estado de Sao Paulo (SINSESP) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The objective of the study was to assess the perception of two officials in relation to the management control system (MCS) used to assess the performance of a Brazilian Credit Union. For this, a research instrument adapted from two studies by Ferreira and Otley (2006) and Beuren and Teixeira (2014) was applied to 82 employees representing 21.08% of the total number of employees of the cooperative. The data are treated by means of descriptive statistics and information entropy techniques. Among the results, it was observed that the SCG and the performance assessment of the cooperative are consolidated, with a mean response of 4.35, varying from level 4 (partial agreement) to 5 (total agreement). Also, one of the contributions of this study was the fact that it was provided to test in another context and segment the performance management and control instrument restructured by Beuren and Teixeira (2014), validating the proposed adaptation by the aforementioned authors. [ABSTRACT FROM AUTHOR]

Copyright of Gestión Joven is the property of Asociacion Espanola de Contabilidad y Administracion de Empresas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Espirales Revista Multidisciplinaria de Investigación is the property of Grupo Compas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Brazilian Business Law Journal / Administração de Empresas em Revista is the property of Administracao de Empresas em Revista and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)