Geographical Outreach: Number of Credit Unions and Financial Cooperatives for Benin
BENFCIODUNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.00
Year-over-Year Change
125.00%
Date Range
1/1/2004 - 1/1/2014
Summary
This trend measures the number of credit unions and financial cooperatives operating in Benin. It provides insights into the geographical reach and accessibility of financial 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 Geographical Outreach: Number of Credit Unions and Financial Cooperatives for Benin metric tracks the total number of these institutions present across different regions of Benin. It is a key indicator of financial inclusion and the ability of underserved populations to access banking and other financial products.
Methodology
The data is collected by the Central Bank of Benin through surveys and administrative records of registered credit unions and cooperatives.
Historical Context
Policymakers and financial regulators use this trend to evaluate financial sector development and identify areas for improving access to formal financial services.
Key Facts
- Benin had 305 credit unions and financial cooperatives as of the latest data.
- These institutions serve over 700,000 members across the country.
- Credit unions are an important source of financial services in rural Benin.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of credit unions and financial cooperatives operating in Benin. It provides insights into the geographical coverage and accessibility of these institutions.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for evaluating financial inclusion and the development of the microfinance sector in Benin. It helps policymakers and regulators identify areas with limited access to formal financial services.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Benin through surveys and administrative records of registered credit unions and cooperatives.
Q: How is this trend used in economic policy?
A: Policymakers and financial regulators use this trend to assess financial sector development and target initiatives to improve access to formal banking and financial services, especially in underserved regions.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and revisions by the Central Bank of Benin. There could be some delays in reporting, and the coverage may not include all informal or unregistered financial institutions.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Credit Unions and Financial Cooperatives for Benin (BENFCIODUNUM), retrieved from FRED.