Journal of Co-operative Studies, 36(2), 117-140
The enemy within? A critical analysis of the Credit Unions Act 1979 and the common bond
The enemy within? A critical analysis of the Credit Unions Act 1979 and the common bond
Nicholas Ryder and Andrew H. Baker
Vol 36(2), pp. 117-140
How to cite this article: Ryder, N. & Baker, A.H. (2003). The enemy within? A critical analysis of the Credit Unions Act 1979 and the common bond. Journal of Co-operative Studies, 36(2), 117-140.
Abstract
The aim of this paper is to critically assess the impact of the common bond upon the development of credit unions. In particular, the authors discuss its philosophy and briefly assess how the Credit Unions Act 1979 impacts upon the evolution of the common bond in the United Kingdom. The paper also considers the impact of the US Supreme Court ruling upon the interpretation of the common bond under section 109 Federal Credit Union Act 1934 and the Credit Union Membership Access Act 1998. The authors conclude that lessons could be learnt from other jurisdictions where the common bond has been given a flexible interpretation by regulatory bodies.
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