Use of Financial Services, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for Guinea
GINFCLODUXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
186,945,000,000.00
Year-over-Year Change
642.17%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits held at credit unions and financial cooperatives in Guinea. It provides insights into the use of financial services and the level of deposit-taking activity in the country's cooperative financial sector.
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, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for Guinea series tracks the total value of deposits held at these types of financial institutions. It offers a window into the level of financial inclusion and the role of cooperative finance in the Guinean economy.
Methodology
The data is collected through surveys and reports from credit unions and financial cooperatives operating in Guinea.
Historical Context
This trend is relevant for policymakers and analysts studying financial access and the cooperative financial sector in Guinea.
Key Facts
- Guinea has over 200 registered credit unions and financial cooperatives.
- Deposits at these institutions account for around 10% of total financial sector deposits in the country.
- Cooperative finance plays a significant role in expanding financial inclusion in rural and underserved areas of Guinea.
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 operating in Guinea.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the role of cooperative finance in the Guinean economy and the level of financial inclusion through these types of institutions.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from the credit unions and financial cooperatives operating in Guinea.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to understand the reach and importance of the cooperative financial sector in promoting financial access and inclusion in Guinea.
Q: Are there update delays or limitations?
A: The data may be subject to reporting lags from the cooperative institutions, and the coverage may not be comprehensive of all such entities in the country.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for Guinea (GINFCLODUXDC), retrieved from FRED.