본 연구에서는 단위신협을 대상으로 금융위기 속에서도 빠른 회복능력을 나타낸 단위신협과 그렇지 못한 단위신협의 원인을 분석하였다. 이를 위해, 신협의 지점을 금융위기 전후 생산성이 좋았던 단위신협 그룹(HH)과 그렇지 못했던 단위신협 그룹(LL)으로 구분한 후, 각 그룹에 대해 수익성 결정요인을 비교.분석하였다. 실증분석결과, 두 그룹에서 공통적으로 총자본비율이 높고 이익대비비용을 나타내는 수지 비율이 낮을수록 수익성이 증가함을 발견하였다. 그러나 생산성이 높은 HH그룹에서는 예대마 진율과 예대율이 높고 직원1인당연봉이 낮을수록 수익성이 증가하는 반면, LL그룹에서는 순고 정이하여신비율이 낮고 직원1인당연봉이 높을수록 수익성이 개선되었던 것으로 나타났다. 이러한 분석결과는 단위신협 중 생산성이 좋은 그룹은 운영수익성과 유동성을 강화하고 인건비절감을 통해 위기를 효과적으로 극복했음을 의미한다. 또한 동일한 단위신협이라 할지라도 해당신협의 생산성 특성의 차이를 감안하여 자원과 경영전략을 어떻게 가져가는가에 따라 금융위기에 대한 대응능력에 차이가 나타날 수 있음을 시사한다.

This study, targeting the credit union, analyzed determinants of the credit union that showed a rapid recovery capability during the global financial crisis in 2008. For this, we categorized branches of the credit union into two groups, HH that had high post-global financial crisis productivity and LL that had low one, and comparatively analyzed determinants of profitability of each group. As a result of the analysis on the both groups, as the total capital ratio was higher, and as the ratio of expenditure to revenue which represents the cost-benefits was lower, profitability was to be increased. While in the HH group, as the loan deposit margin ratio was higher, as the loan-deposit ratio was higher, and as an annual wage per worker was lower, profitability increased, in the LL group, as the sub-standard ratio was lower, and as an annual wage per worker was higher, profitability was to be increase. These facts mean that, of branches of the credit union, those with high productivity overcame the crisis efficiently by enhancing operation profitability and liquidity and reducing personnel expenses. These results indicate that branches of even the same credit union could have different response capabilities against the global financial crisis depending on their methods to deal with resources and business strategies.