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ch21 - -concentrated default risk Management concerns-best...

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FIN 3303 Chapter 21 Credit Unions Unique characteristics of credit unions Nonprofit Mutual form of ownership Common bond of members Federal and state charters Limited diversification Relatively small Advantages Pay no federal income taxes Able to offer attractive rates Employer supported facilities-volunteer workers Powerful grassroots lobby and trade associations Disadvantages Poor diversification -high liquidity needs
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Unformatted text preview: -concentrated default risk Management concerns-best talent goes to big banks Small entities-difficult to attain scale economies Who regulates credit unions? Federally chartered-National Credit Union Administration-National Credit Union Share Insurance Fund State Chartered-State regulators-Private or NCUSIF Deposit Insurance Are your deposits with credit unions insured? Yes...
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