신협의 조합원 등급이 요구불예금과 출자금에 미치는 영향

Abstract

This study analyzed the effect of corporate members and individual members (upper-grade reference members) on the average balance of demand deposits and the balance of investments that are regarded as the determinants of the profitability of credit unions.

This study analyzed higher individuals and corporate members in 25 regional credit unions located in Gwangju and Jeonnam until the end of June 2021. In order to maintain the homogeneity of the analysis targets and derive the generalization of the research results, 7,707 of the 8,289 union members were selected as the final verification target sample, excluding 64 without required demand deposits and 518 without the average balance of investment for 3 month union membership.

The main verification variables were 317 corporate members and 594 high-grade members, and dummy variables were taken from these samples and used for empirical analysis. In addition, the hypothesis was verified by including deposit transactions, ordinary deposits, face-to-face transactions, insurance, electronic finance, card payment, VAN subscription, duration of union membership, and gender according to the main transaction subject. The results of empirical analysis were presented as descriptive statistics, correlation analysis, mean difference analysis, and multiple linear regression analysis. The results of the empirical analysis are as follows. First, as a result of univariate correlation analysis, both corporate and higher-grade members showed statistically significant positive (+) correlation coefficients for demand deposits. In the average balance of investment, corporate members showed a significant negative (-) correlation, while higher-grade members showed a significant positive (+) correlation, showing a contrast. Second, as a result of univariate mean difference analysis, the effect of corporate members on demand deposits was higher than that of individual members, while the average balance of investment was lower. Both the demand deposit and the average balance of investment were higher for higher-grade union members than for lower-grade union members. Third, as a result of multiple regression analysis including control variables, corporate union members had a very significant effect on demand deposits at a statistically significant level of 1%, but a significant negative (-) regression coefficient was derived on the average balance of investment. This suggests that corporate members are less loyal than individual members, have different purposes of transactions, or rely on the convenience of daily transactions rather than trying to increase assets by dividends by depositing investments. However, it was found that the higher-grade union members had a positive effect on both the average balance of demand deposits and investments compared to the relatively low-grade union members.

Despite the importance of credit unions as local financial institutions, most of the previous studies in Korea have been verified for banks in the primary financial sector, and profitability studies for credit unions have been very insufficient in terms of business administration. This study will be differentiated from the original study that divided the composition of members into corporate members and higher-grade members to investigate the effect of them on the average balance of demand deposits and investments, which are core rates of credit union profitability. This study emphasizes the importance of securing profitability based on the rapidly changing financial environment caused by low interest rates, low growth, and economic contraction due to COVID-19, and to this end, the expansion of corporate members and maintenance of high-grade members can have a positive effect on the average balance of investment.