Use of Financial Services, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for Ecuador
ECUFCLODUXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23,044,000,000.00
Year-over-Year Change
344.88%
Date Range
1/1/2013 - 1/1/2024
Summary
This trend measures the outstanding deposits held at credit unions and financial cooperatives in Ecuador. It provides insights into the usage and reliance on these financial services in the Ecuadorian economy.
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 outstanding deposits held at credit unions and financial cooperatives in Ecuador reflect the level of activity and financial inclusion in the country's cooperative banking sector. This data is used by economists and policymakers to analyze the growth and stability of the cooperative finance industry.
Methodology
The data is collected and reported by the Central Bank of Ecuador.
Historical Context
Trends in outstanding deposits at credit unions and cooperatives offer insights into the financial health and accessibility of these institutions, which play a vital role in Ecuador's banking and economic development.
Key Facts
- Ecuador has over 600 registered credit unions and financial cooperatives.
- Cooperative banking institutions hold over 20% of total deposits in the Ecuadorian financial system.
- Outstanding deposits at credit unions and cooperatives have grown by an average of 8% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits held at credit unions and financial cooperatives in Ecuador.
Q: Why is this trend relevant for users or analysts?
A: Trends in cooperative banking deposits provide insights into financial inclusion, access to credit, and the stability of the cooperative finance sector in Ecuador.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Ecuador.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to monitor the health and growth of Ecuador's cooperative banking industry, which plays a crucial role in financial inclusion and economic development.
Q: Are there update delays or limitations?
A: The data is published monthly with a short lag, and represents a comprehensive record of deposits held at registered credit unions and cooperatives in Ecuador.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for Ecuador (ECUFCLODUXDC), retrieved from FRED.