At the sharp end of the credit crisis: A profile of Valleys Credit Union

Scott-Cato, Molly, Myers, Jan and Howlett, Steven (2013) At the sharp end of the credit crisis: A profile of Valleys Credit Union. Local Economy, 28 (6). pp. 539-552. ISSN 0269-0942

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Official URL: http://dx.doi.org/10.1177/0269094213496757

Abstract

The near-collapse of the country’s largest financial institutions and the forced nationalisation of two major high-street banks raise concerns about the ability of smaller financial institutions to survive. In this article we assess the performance of a credit union in the South Wales Valleys in the context of the financial crisis. We offer a profile of Valleys Credit Union and provide statistics to assess its financial health and viability. We conclude that, while the credit union has ridden out
the storm with considerable skill, it and other credit unions require continued political support,especially in terms of intervention in the market for instant loans with excessive rates of interest.

Item Type: Article
Uncontrolled Keywords: credit unions, financial co-operatives, financial crisis, retail credit, Wales
Subjects: L100 Economics
L400 Social Policy
N900 Others in Business and Administrative studies
Department: Faculties > Business and Law > Newcastle Business School > Corporate and Executive Development
Depositing User: Jan Myers
Date Deposited: 23 Sep 2014 12:42
Last Modified: 10 Aug 2015 10:57
URI: http://nrl.northumbria.ac.uk/id/eprint/17654

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