US credit unions: Survival, consolidation and growth

John Goddard, Donal McKillop, John Wilson

Research output: Contribution to journalArticlepeer-review

24 Citations (SciVal)
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This study uses hazard function estimations and time-series and cross-sectional growth regressions to examine the impact of exit through merger and acquisition (M&A) or failure, and internally-generated growth, on the firm-size distribution within the US credit union sector. Consolidation through M&A was the principal cause of a reduction in the number of credit unions, but impact on concentration was small. Divergence between the average internally-generated growth of smaller and larger credit unions was the principal driver of the rise in concentration.
Original languageEnglish
Pages (from-to)304-319
Number of pages16
JournalEconomic Inquiry
Issue number1
Early online date05 Jul 2013
Publication statusPublished - 01 Jan 2014
Externally publishedYes


  • acquisition
  • credit unions
  • entry
  • exit
  • failure
  • Gibrat's Law


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