Use of Financial Services: Key Indicators, Borrowers from Credit Unions and Financial Cooperatives Per 1000 Adults for Colombia
COLFCRODUANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.79
Year-over-Year Change
22.14%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of borrowers from credit unions and financial cooperatives per 1,000 adults in Colombia. It provides insights into financial inclusion and access to alternative lending sources 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: Key Indicators, Borrowers from Credit Unions and Financial Cooperatives Per 1000 Adults for Colombia' series tracks the availability and usage of credit union and cooperative financial services among the adult population. This metric is used to assess financial inclusion and the role of non-traditional lenders in Colombia's financial landscape.
Methodology
The data is collected through surveys and reporting by credit unions and financial cooperatives in Colombia.
Historical Context
This trend is relevant for policymakers and analysts studying financial inclusion and the role of alternative financial service providers in developing economies.
Key Facts
- Colombia has over 200 credit unions and financial cooperatives.
- The number of borrowers from these institutions has grown steadily in recent years.
- Access to credit union and cooperative financing is seen as an important driver of financial inclusion in Colombia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of borrowers from credit unions and financial cooperatives per 1,000 adults in Colombia. It provides insights into financial inclusion and access to alternative lending sources in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers and analysts studying financial inclusion and the role of alternative financial service providers in developing economies like Colombia.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting by credit unions and financial cooperatives in Colombia.
Q: How is this trend used in economic policy?
A: This trend is used to assess financial inclusion and the role of non-traditional lenders in Colombia's financial landscape, which is relevant for policymakers.
Q: Are there update delays or limitations?
A: The data may be subject to update delays depending on the reporting schedules of credit unions and cooperatives in Colombia.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Borrowers from Credit Unions and Financial Cooperatives Per 1000 Adults for Colombia (COLFCRODUANUM), retrieved from FRED.