Research Study: Credit Union Regulatory Burden
Research Description Below
Taking the Survey
Click on the appropriate links below to complete the credit union regulatory burden survey.
The survey must be completed in one session or your responses will be lost. If you need to circulate the survey internally or gather data before you respond, country-specific versions of the survey are available (for reference only) below:
We have extended the response deadline to August 13, 2013.
Frequently Asked Questions
- Who should respond? Any natural-person credit union in the United States or Canada is encouraged to complete the survey? The employee most responsible for regulatory compliance is best positioned to respond on behalf of the credit union.
- What information will I need? A knowledge of the resources needed for compliance will be helpful. You may also need to consult your accounting department to report/estimate various costs.
- What if I don't have exact numbers to answer some of these questions? Not every credit union will have detailed accounting of regulatory costs. We ask for and appreciate good-faith estimates.
- The survey doesn't let me move to the next question or page. What's wrong? -- In order to ensure comparable data, most of the questions require an answer. Additionally, some require the answer in the specified format before you can proceed to the next question.
- Who can I contact if I have problems responding? -- In the United States, please contact Ben Rogers (firstname.lastname@example.org) at Filene. In Canada, please contact Marc-Andre Pigeon (PigeonM@cucentral.com) at Credit Union Central of Canada.
About the Research
When legislatures, regulators, and international standards organizations write financial regulation, they follow the headlines, writing checks and balances designed to fend off the last crisis and to target egregious offenders or systemically risky organizations. The merits of this approach are debatable, but it almost always fails to account for small financial institutions, like credit unions, which must find ways to cope with new mandates.
The Filene Research Institute and Credit Union Central of Canada invite you to participate in research that examines the effects of increasing regulation on credit unions. Conducting the research are professors Panu Kalmi, University of Vaasa, Finland, and Giovanni Ferri, LUMSA University of Rome, Italy. The researchers will survey a cross-section of North American credit unions and use respondent data to quantify regulatory burden for credit unions, especially its differing effects across asset sizes. The survey will also ask respondents to categorize their time spent complying with specific regulations (differing in the U.S. and in Canada) in an attempt to identify the most burdensome regulations.