Geographical Outreach: Number of Credit Unions and Financial Cooperatives for Dominican Republic
DOMFCIODUNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,293.00
Year-over-Year Change
323.06%
Date Range
1/1/2004 - 1/1/2022
Summary
This economic trend measures the number of credit unions and financial cooperatives operating in the Dominican Republic. It provides insights into the geographical outreach 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 Dominican Republic series tracks the total number of these institutions, which play a crucial role in providing financial services, especially to underserved and rural populations.
Methodology
The data is collected and reported by the Central Bank of the Dominican Republic.
Historical Context
This trend is used by policymakers, economists, and financial institutions to analyze the state of financial inclusion and the development of the cooperative banking sector in the Dominican Republic.
Key Facts
- The number of credit unions and financial cooperatives in the Dominican Republic has grown steadily over the past decade.
- These institutions play a vital role in providing financial services to underserved rural and low-income communities.
- The Dominican Republic has one of the highest rates of credit union and cooperative bank membership in Latin America.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of credit unions and financial cooperatives operating in the Dominican Republic, providing insights into the geographical outreach and accessibility of financial services.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, economists, and financial institutions to analyze the state of financial inclusion and the development of the cooperative banking sector in the Dominican Republic.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of the Dominican Republic.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and financial institutions to assess the progress of financial inclusion initiatives and the growth of the cooperative banking sector in the Dominican Republic.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of the Dominican Republic, but there may be occasional delays in reporting or revisions to previous figures.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Credit Unions and Financial Cooperatives for Dominican Republic (DOMFCIODUNUM), retrieved from FRED.