A comparison of bank and credit union growth around the financial crisis

PurposeThe purpose of this research is to examine the growth rates of commercial banks and credit unions around the financial crisis and recovery. Credit unions are analyzed as a group and by field of membership. Specifically, this research analyzes the growth rates of assets, deposits, and loans.Design/methodology/approachThis research employs univariate tests of differences to examine the median growth rates for commercial banks and credit unions. Unbalanced pool regressions analyze growth rates during the pre-crisis, crisis, and recovery periods, controlling for size, net charge-offs, and unemployment.FindingsUnivariate test results that control for size show that banks grow at faster rates than credit unions for most of the pre-crisis years. However, medium sized credit unions grow at faster rates for most of the crisis and recovery years. Results of unbalanced pool regressions suggest that, overall, credit unions grow at slower rates than do banks. However, during the crisis and recovery, credit union growth is significantly greater than that of banks, after controlling for net charge-offs, size, and unemployment. Credit union growth varies by field of membership type.Originality/valueAlthough a large volume of research examines commercial bank performance around the financial crisis, only a few papers assess the performance of credit unions. And very few papers compare commercial banks and credit unions. This paper explores how the recent financial crisis influenced the growth of commercial banks and credit unions from 2005 to 2013.

The Myth of Section 7(a): Worker Militancy, Progressive Labor Legislation, and the Coal Miners

In this article, the authors look at the supposed causal role of progressive labor legislation on union organizing. As an extension of the Wagner Act debates of the late 1980s and early 1990s, the authors argue—contrary to the accepted wisdom of virtually all established scholarship—that “progressive” labor legislation is not generally the impetus for worker organization, a necessary prerequisite without which mass unionization would be impossible. Rather, this legislation is often consciously cooptive, with the explicit goal of diffusing worker militancy, denuding and undermining radical leadership while simultaneously placating popular discontent. The theoretical and methodological shortcomings of the former position are analyzed in the context of the passage of Section 7(a) of the National Industrial Recovery Act (NIRA). The authors argue that if the unionization of coal miners—the supposed primary beneficiaries of the stimulus attributed to the legislation—occurred prior to the passage of the NIRA, Section 7(a) could not have acted as a catalyst to unionization in the coalfields. The authors show, using archival and secondary accounts, that nearly all the nation’s coal miners were organized before the passage of the NIRA. In light of this empirical data, the authors propose an alternative model of union growth that rejects the methodological individualist assumptions that tacitly undergird the existing literature.

SUSTAINABLE STRATEGIC GROWTH, SAVINGS AND CREDIT COOPERATIVE SOCIETY AND CREDIT UNION INDUSTRY: A GLOBAL OVERVIEW

Purpose: To ascertain the sustainable strategic growth Savings and Credit Cooperative Societies and Credit Unions Industry globallyMethodology: This is a secondary research based on review of existing available literature (from books, conference reports, websites and journals) in the area of Savings and Credit Cooperatives Societies and Credit Unions in various countries globally.Findings: The study found that number of Savings and Credit Cooperative Societies/Credit Unions in Africa increased by 83.3%, while that of Asia increased by 78.0% between the periods 2007 and 2016 and the average industry growth for Africa and Asia was 33.2% and 42.3% respective. The number of Credit Union growth in Caribbean (-5.6%), Europe (-23.9%), Latin America (-4.5%), North America (-32.6%) and Oceania (-32.8%) registered number of Savings and Credit Cooperative Society/Credit Union growth decline between the periods 2007 and 2016. The global aggregate growth in the number of Savings and Credit Cooperative Society/Credit Unions between 2007 and 2016 was 46.0%.Unique contribution to theory, practice and policy: Considerations for global Savings and Credit Cooperative and Credit Union growth are evaluated on the multiple dimensions of market, region diversity, technological innovation rate, and Savings and Credit Cooperative Society/Credit Union market trends. Growth is the most frequently used corporate strategy. It means increases sales, assets, net profits and a chance to take advantage of the experience curve.

ACCESSIO (AKCESJA) W TERMINOLOGII RZYMSKIEGO PRAWA PRYWATNEGO

The ‘accessio’ (accession) in the Terminology of Roman Private LawSummaryThe term accessio (accession) in the terminology of Roman private law did not only denote union and confusion of things. It was a very general term used for defining various cases of property acquisition through union, growth of property, and it determined addition of a new obligation to an old one or addition of a supplementary contract, person or object to the obligation.In the Roman Law literature the term accessio is predominantly used for union of two things in accordance with the principle accessio cedit principali, i.e. the increase falls to the share of the principal.Moreover, the term accessio also denoted adding the duration of ownership of an object by the predecessor (accessio possessionis) or simply adding the duration (accessio temporis). In the sources for the Roman Law accessio temporis and possessionis are used interchangeably for determining specific actual states, which resolve issues connected with accession of ownership duration of the predecessor to the ownership duration of the last owner. Similarly in lexicons, accessio temporis is presented as a synonym of accessio possessionis. The aforementioned accession of ownership duration [of the predecessor by his successor under specific title was permissible with interdict aimed at protection against infringement of ownership of movable objects (interdictum utrubi), with prescription (usucapio) and charge of long time ownership (longi temporis praescriptio).Furthermore, accession also meant accessio personae that is addition of a person, i.e. additional creditor who, beside the principal creditor, could collect repayment of debt from debtor (adstipulator), or a person who additionally, beside the principal debtor, pledged to the creditor to repay the debt (adpromissor), or it is addition of a new obligation to an old one by means of contract of guaranty (fideiussio). With accessio personae, similarly to union of things in accordance with the principle of accessio cedit principali, there had to be two things, one of them determined as principal and the other - additional. Obviously, here occur two obligations, one treated as principal, and the other as additional or accessory.Moreover, accession also means accessio rei, that is addition of new article of service to obligation, that the debtor could render alternatively with the previous, which was possible with alternative obligation (obligatio alternativa) and alternative authorization (facultas alternativa).