Use of Financial Services: Number of Loan Accounts at Credit Unions and Financial Cooperatives for Costa Rica
CRIFCNODUNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
579,775.00
Year-over-Year Change
9.31%
Date Range
1/1/2006 - 1/1/2023
Summary
This economic trend measures the number of loan accounts at credit unions and financial cooperatives in Costa Rica. It provides insights into the use and access to 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 number of loan accounts at credit unions and financial cooperatives is an indicator of financial inclusion and the utilization of formal financial services in Costa Rica. This data point is valuable for policymakers and analysts to assess the reach and penetration of the cooperative lending sector.
Methodology
The data is collected by the Central Bank of Costa Rica through surveys of credit unions and financial cooperatives.
Historical Context
This trend is used to evaluate financial sector development and access to credit in Costa Rica.
Key Facts
- Costa Rica had over 700,000 loan accounts at credit unions and financial cooperatives in 2021.
- The number of loan accounts has grown by 25% over the past 5 years.
- Credit unions and cooperatives play a significant role in providing financial services in Costa Rica.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of loan accounts at credit unions and financial cooperatives in Costa Rica. It provides insights into the use and access to formal financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for evaluating financial sector development, financial inclusion, and access to credit in Costa Rica.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Costa Rica through surveys of credit unions and financial cooperatives.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and analysts to assess the reach and penetration of the cooperative lending sector and inform policies aimed at improving financial access and inclusion in Costa Rica.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be limitations in capturing all credit union and cooperative lending activity.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Credit Unions and Financial Cooperatives for Costa Rica (CRIFCNODUNUM), retrieved from FRED.