Use of Financial Services: Number of Depositors at Credit Unions and Financial Cooperatives for Solomon Islands
SLBFCDODUPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,850.00
Year-over-Year Change
8.39%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of depositors at credit unions and financial cooperatives in Solomon Islands. It provides insights into the level of financial inclusion and access to formal banking 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 depositors at credit unions and financial cooperatives is an indicator of the use of formal financial services in Solomon Islands. It reflects the extent to which individuals and businesses are able to access and utilize banking, savings, and credit products offered by these institutions.
Methodology
The data is collected by the Central Bank of Solomon Islands through surveys of credit unions and financial cooperatives operating in the country.
Historical Context
This trend is relevant for policymakers and financial sector analysts seeking to understand financial inclusion and the development of the Solomon Islands' financial system.
Key Facts
- Solomon Islands has a population of around 700,000 people.
- Credit unions and financial cooperatives play a significant role in providing banking services in rural and remote areas.
- The number of depositors has grown steadily in recent years as financial inclusion initiatives have expanded.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of depositors at credit unions and financial cooperatives in Solomon Islands, which reflects the level of financial inclusion and access to formal banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers and financial sector analysts seeking to understand the development of Solomon Islands' financial system and the extent to which individuals and businesses can access formal banking services.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Solomon Islands through surveys of credit unions and financial cooperatives operating in the country.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and financial sector analysts to monitor financial inclusion and inform policies and initiatives aimed at expanding access to formal banking services in Solomon Islands.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and revisions by the Central Bank of Solomon Islands, and there may be some delays in data reporting and availability.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Credit Unions and Financial Cooperatives for Solomon Islands (SLBFCDODUPENUM), retrieved from FRED.