Description
This paper aims to undertake a critical review of the history and purpose of the ‘common bond’, a pervasive and traditionally much-valued feature
of credit union legal and regulatory forms in Great Britain, Ireland, Northern Ireland and other movements internationally. The existence of the
common bond is so much ‘a part of the furniture’ that it has seldom been subject to critical analysis. The main themes that arise from this
study, which focuses on Great Britain but which also considers other jurisdictions, are:
∞ Variation and change
∞ Legislation
∞ Relevance
∞ Rationale
∞ Popular understanding
∞ Co-operative values
∞ Adaptation
∞ New bonds
∞ Technical problems
∞ Freedom to choose
∞ Legislative complexity
This paper draws some challenging conclusions – these are presented in the spirit of discussion, to support self-reflection in and the strategic
development of the credit union movement.
