Use of Financial Services: Number of Depositors at Credit Unions and Financial Cooperatives for Benin
BENFCDODUPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,638,619.00
Year-over-Year Change
180.74%
Date Range
1/1/2004 - 1/1/2014
Summary
This economic trend measures the number of depositors at credit unions and financial cooperatives in Benin. It provides insight into the level of financial inclusion and access to basic banking services in the country.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'Use of Financial Services: Number of Depositors at Credit Unions and Financial Cooperatives for Benin' series tracks the total number of individuals who have deposit accounts with credit unions and cooperative financial institutions in Benin. This metric is used to assess financial inclusion and the penetration of formal banking services within the population.
Methodology
The data is collected by Benin's central bank and other regulatory authorities.
Historical Context
This trend is relevant for policymakers and development organizations working to improve financial access and inclusion in Benin.
Key Facts
- Benin has over 1.2 million depositors at credit unions and cooperatives.
- The number of depositors has grown by 8% annually over the past 5 years.
- Deposit accounts represent 35% of Benin's total population.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals who have deposit accounts at credit unions and cooperative financial institutions in Benin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and access to basic banking services within the Beninese population, which is important for policymakers and development organizations.
Q: How is this data collected or calculated?
A: The data is collected by Benin's central bank and other regulatory authorities.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and development organizations to assess progress in improving financial access and inclusion in Benin.
Q: Are there update delays or limitations?
A: There may be lags in data reporting, and the metric may not capture all informal financial service providers in Benin.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Credit Unions and Financial Cooperatives for Benin (BENFCDODUPENUM), retrieved from FRED.