Comparative Aspect of Credit Unions Development in Retail Market in Lithuania, Poland and Ireland in the Context of the European Union

• Autorzy: Dalia Kaupelyte , Olive McCarthy
• Języki publikacji: EN

Abstrakty

EN

Credit unions are not-for-profit, financial co-operatives that offer lowcost financial services to their members. They are based on international cooperation and democratic principles which have remained essentially unchanged since the days of the co-operative pioneers of the nineteenth century. The first known credit union was set up in Heddesdorf Germany in 1869. Since then they have developed in two distinct but related directions. In most European countries they became European co-operative banks. These are now dominant consumer financial providers that serve the general public. In North America, a different model of financial co-operative enterprise took hold. Using, for the most part, the name "credit union" these member co-operatives a much more local and autonomous structure than their European cousins. Thev are based on a strong notion of a common bond, understood as a relationship that defines a certain unity between members. Membership of a credit union is, in fact, restricted to people who share the common bond. This is, determined, usually as either living or working in a particular locality, being employed by a particular employer, following a particular occupation or being a member of an association or society. Credit unions, as known in Britain, Ireland and Eastern Europe, developed out this North American model. (fragment of text)

Słowa kluczowe

EN

Economic integration with the EU countries; Finance; Credit unions; Retail banking

PL

Integracja gospodarcza państw z UE; Finanse; Kasy spółdzielcze; Bankowość detaliczna

• Czasopismo: Prace Naukowe / Akademia Ekonomiczna w Katowicach
• Rocznik: 2004
• Tom: Finanse w dobie integracji europejskiej
• Strony: 83--93

Twórcy

autor

Dalia Kaupelyte

• Vytautas Magnus University, Lithuania

autor

Olive McCarthy

• University College Cork, Ireland

Bibliografia

• Jones P.A.: The Growth of Credit Unions and Credit Co-operatives - is the Past Still Present? Banking and Social Cohesion. International Association of Investors in the Social Economy. Brussels 1999.
• Nowak A.: The Polish Banking Sector and the European Union Banking System. Association of Polish Credit Unions Warsaw 2001.