I think maybe the same movement that created the Yale Cooperative Society in the late nineteenth century also spurred credit unions.

我想大概在19世纪晚期,推动形成了"耶鲁互助会"的那场运动,同时也催生了信用合作社

耶鲁公开课 - 金融市场课程节选

Well, it wouldn't have been automobile loans when these were created; I don't know, something loans, etc.

信用合作社成立之初大概还没有汽车贷款,反正诸如此类贷款吧

耶鲁公开课 - 金融市场课程节选

The credit unions are even smaller, $748 billion -so it's less than $1 trillion in credit unions.

信用合作社就更小了,7480亿美元,还不到1万亿美元

耶鲁公开课 - 金融市场课程节选

If you look at number of organizations that do this business, it comes completely reversed and it's credit unions that are the most important.

从这些金融机构的数量上来看,排行完全相反,信用合作社就成了最重要的

耶鲁公开课 - 金融市场课程节选

Credit unions are -I think they came out of kind of the cooperative movement.

信用合作社,我想它大概是源自互助合作运动

耶鲁公开课 - 金融市场课程节选

It's like a Savings and Loan Association except that credit unions are created by some entity, some club or group, and they're not open to the whole public.

这有点像储贷协会,不同点在于,信用合作社是由某个独立群体所创建的,比如社团或集体组织,它不面向整个社会公众

耶鲁公开课 - 金融市场课程节选

You may have a false impression of the importance of credit unions.

对于信用合作社的重要性,你们可能会有错误的印象

耶鲁公开课 - 金融市场课程节选

You hear about credit unions a lot because they're in your neighborhood and they're advertising for small depositors, so they're in your face, but commercial banks are actually much more important.

你们常会听到信用合作社,因为它们就在你家附近,它们还面向小额储户打广告,所以比较显眼,但商业银行其实要重要得多

耶鲁公开课 - 金融市场课程节选

There's also something called credit unions.

还有一类叫做信用合作社

耶鲁公开课 - 金融市场课程节选

I don't have the latest data -this is from 1998 -but there were 11,000 credit unions -that's the number of credit unions in the United States in 1998 -and there were only 9,000 commercial banks; that's the number of banks.

我手上没有最新的数据,这个是1998年的,共有11000个信用合作社,这是1998年全美信用合作社的数量,与此同时,商业银行只有9000家,这是银行的数量

耶鲁公开课 - 金融市场课程节选