2 ms·
Where the laws are more relaxed, credit unions can be competitive. The Desjardins credit union (technically a federation of credit unions) based out in Quebec i
by acveilleux 11y ago
Where the laws are more relaxed, credit unions can be competitive. The Desjardins credit union (technically a federation of credit unions) based out in Quebec is a good example, they have 5.8m members and 254B$ of assets. They even have branches in the US, but those are chartered as banks and owned by the federation.
That said, it's hard for a cooperatively structured to be nimble and the bureaucracy and internal politics are legendary.
- lostcolony 11y agoBanks are known for their nimbleness, lack of bureaucratic red tape, and lack of internal politics?
- acveilleux 11y agoIt's all relative, but yeah, any of the big 5 canadian banks are immensely more nimble than desjardins which is internally structured as a federation of credit unions each of which is technically independent.