Język Polski
English
Published
:
2011-04-30
The Safety Mechanisms in Credit Unions
Maria Magdalena Golec
Abstract
Credit unions (in Poland called co-operative savings and credit unions) from the financial services offered point of view, collecting savings and using he accumulated funds to grant loans, become similar to banks. Operating as non-banking deposit institutions, in practice may be regulated in a different way to banks. The institutions of this kind also provides the regulatory mechanisms of safety for depositors, meaning as the supervision of their activities and the system of deposit guarantee, however in practice such solutions do not always operate. The article analyzes the reasons for introducing safety mechanisms in credit unions, and analysis of solutions in the selected financial systems. It was pointed the arguments for and against external regulation in the sector of credit unions. In addition, it was discussed the diversity of actual practice in this regard, the inclusion of credit unions to the banking systems (in terms of supervision and deposit guarantee schemes), via specific distinct solutions in this area and intermediate forms, to a situation where the credit unions do not have the mechanisms in question. (original abstract)Keywords:
Credit unions, Non-banking financial companies, Credit institutionMost read articles by the same author(s)
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Golec, M. M. (2011). The Safety Mechanisms in Credit Unions. Zeszyty Naukowe Wyższej Szkoły Bankowej W Poznaniu, 33(33). Retrieved from https://journals.wsb.poznan.pl/index.php/znwsb/article/view/1495