Geographical Outreach: Number of Credit Unions and Financial Cooperatives for Jamaica
JAMFCIODUNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24.00
Year-over-Year Change
-44.19%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of credit unions and financial cooperatives operating in Jamaica. It provides insight into the geographical reach 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 number of credit unions and financial cooperatives in Jamaica is an indicator of the financial inclusion and accessibility of banking and lending services across the country. This metric is used by policymakers and economists to assess the coverage and penetration of community-based financial institutions.
Methodology
The data is collected and reported by the Bank of Jamaica.
Historical Context
This trend is relevant for understanding the development of Jamaica's financial sector and access to credit for individuals and small businesses.
Key Facts
- Jamaica had 36 credit unions and financial cooperatives as of 2020.
- Credit union membership in Jamaica exceeds 1 million people.
- The credit union sector holds over $1 billion in assets in Jamaica.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of credit unions and financial cooperatives operating in Jamaica, providing insight into the geographical reach and accessibility of financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the development of Jamaica's financial sector and access to credit for individuals and small businesses.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bank of Jamaica.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the coverage and penetration of community-based financial institutions in Jamaica.
Q: Are there update delays or limitations?
A: The data is published regularly by the Bank of Jamaica, but there may be occasional delays in reporting.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Credit Unions and Financial Cooperatives for Jamaica (JAMFCIODUNUM), retrieved from FRED.