Use of Financial Services: Key Indicators, Deposit Accounts with Credit Unions and Financial Cooperatives Per 1000 Adults for Ecuador
ECUFCAODUANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,409.11
Year-over-Year Change
340.52%
Date Range
1/1/2013 - 1/1/2023
Summary
This economic trend measures the number of deposit accounts per 1,000 adults at credit unions and financial cooperatives in Ecuador. It provides insight into financial inclusion and the usage of community-based financial services.
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, Deposit Accounts with Credit Unions and Financial Cooperatives Per 1000 Adults for Ecuador' series tracks the access and utilization of community-based deposit-taking institutions in the country. This metric is used to evaluate financial inclusion and the reach of alternative banking services.
Methodology
The data is collected and reported by the World Bank.
Historical Context
Policymakers and financial regulators use this indicator to monitor financial access and inclusion initiatives.
Key Facts
- Ecuador had 501 deposit accounts per 1,000 adults at credit unions in 2020.
- Financial cooperatives account for over 30% of total deposits in Ecuador's financial system.
- Credit union membership in Ecuador has grown by 8% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts per 1,000 adults held at credit unions and financial cooperatives in Ecuador.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the reach and usage of community-based financial services, which is an important aspect of financial inclusion in the country.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank.
Q: How is this trend used in economic policy?
A: Policymakers and financial regulators use this indicator to monitor financial access and inclusion initiatives in Ecuador.
Q: Are there update delays or limitations?
A: The data is published annually with a potential delay of 1-2 years.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Deposit Accounts with Credit Unions and Financial Cooperatives Per 1000 Adults for Ecuador (ECUFCAODUANUM), retrieved from FRED.