Strength of the union

Article Abstract:

Canadian credit unions thought that consolidation in the banking industry could help them attract more customers who preferred not to deal with large banks. The major mergers planned for 1998 were not permitted by the authorities, and the credit unions themselves are seeking to consolidate in 1999. Credit unions are especially important in British Colombia, Quebec, Manitoba and Saskatchewa, but less so elsewhere. A plan for a national cooperate bank has a number of benefits in terms of cutting costs, though credit unions are concerned about loss of independence.

Canada

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Banking on the poor

Article Abstract:

Community development financial institutions (CDFIs) have become fashionable in the US as a way of tackling poverty in both urban and rural areas. The term relates to a range of institutions including credit unions and micro finance funds. There is little data on numbers of funds and the finance involved, since they tend not to be regulated. Waste and bureaucracy can be reduced by using federal funds to supplement private projects. There was some waste in the initial years, but the CDFIs have become better managed.

United States, Economic aspects, Federal aid to community development, Government aid to community development

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Banking on the poor

Article Abstract:

Bill Clinton's idea of a community-development bank will operate somewhat like current community-development corporations. Two successful community investors are Shorebank Corporation of Chicago and the New Community Corporation in Newark, New Jersey.

Social aspects, Management, Community development corporations

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