Compared to C corporation banks, S corporation banks and credit unions are considered tax-exempt institutions, with credit unions receiving the greatest tax benefit. Institutions can choose to pass this benefit onto customers in the form of higher deposit rates and lower loan rates. We test this hypothesis by analyzing a dataset of 11 distinct deposit and loan products over 15 years and compare interest rates offered by depository institutions partitioned into three size groups. Overall, our results indicate credit unions offer higher deposit and lower loan rates compared to commercial banks, particularly for timed deposits (CDs), money market accounts, auto loans, and fixed unsecured loans. In contrast, S banks and C banks offer similar interest rates on most deposit and loan products. These findings generally hold across all size groups and differences become more pronounced when comparing larger credit unions to commercial banks. Notably, credit unions in the large size group offer better interest rates to customers for all products analyzed.

与 C 公司银行相比，S 公司银行和信用合作社被认为是免税机构，信用合作社获得最大的税收优惠。机构可以选择以更高的存款利率和更低的贷款利率的形式将这种好处转嫁给客户。我们通过分析超过 15 年的 11 种不同存款和贷款产品的数据集来检验这一假设，并比较分为三个规模组的存款机构提供的利率。总体而言，我们的结果表明，与商业银行相比，信用合作社提供更高的存款和更低的贷款利率，尤其是定期存款 (CD)、货币市场账户、汽车贷款和固定无抵押贷款。相比之下，S 银行和 C 银行对大多数存贷款产品提供相似的利率。这些发现通常适用于所有规模的群体，在将较大的信用合作社与商业银行进行比较时，差异变得更加明显。值得注意的是，大型集团中的信用合作社为所有分析的产品向客户提供更好的利率。