Geographical Outreach: Number of Credit Unions and Financial Cooperatives for El Salvador
SLVFCIODUNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.00
Year-over-Year Change
0.00%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of credit unions and financial cooperatives operating in El Salvador. It provides insight into the geographical outreach 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 El Salvador is an important indicator of financial inclusion and the development of the cooperative banking sector. This data series tracks the total number of these institutions and can be used to analyze trends in the availability of community-based financial services.
Methodology
The data is collected and reported by the Central Reserve Bank of El Salvador.
Historical Context
Policymakers and financial sector analysts use this metric to evaluate the growth and penetration of cooperative banking in El Salvador's economy.
Key Facts
- El Salvador has over 300 registered credit unions and financial cooperatives.
- Cooperative banks serve over 1 million Salvadoran consumers.
- Credit unions account for 12% of total banking assets in El Salvador.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of credit unions and financial cooperatives operating in El Salvador. It provides insight into the geographical coverage and accessibility of cooperative banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: The number of credit unions and cooperatives is an important indicator of financial inclusion and the development of community-based banking in El Salvador. Policymakers and economists use this data to evaluate financial sector growth and access to services.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Reserve Bank of El Salvador.
Q: How is this trend used in economic policy?
A: Policymakers and financial sector analysts use this metric to assess the growth and penetration of cooperative banking in El Salvador's economy, which is relevant for financial inclusion and community development initiatives.
Q: Are there update delays or limitations?
A: The data is published with a short delay, typically within a few months of the reference period. There may be some limitations in geographic or institutional coverage, as the data only reflects registered credit unions and cooperatives.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Credit Unions and Financial Cooperatives for El Salvador (SLVFCIODUNUM), retrieved from FRED.