Use of Financial Services: Key Indicators, Deposit Accounts with Credit Unions and Financial Cooperatives Per 1000 Adults for Samoa
WSMFCAODUANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.24
Year-over-Year Change
1235.77%
Date Range
1/1/2012 - 1/1/2023
Summary
This economic indicator measures the number of deposit accounts with credit unions and financial cooperatives per 1,000 adults in Samoa. It provides insights into the level of financial inclusion and access to formal banking services within 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 'Use of Financial Services: Key Indicators, Deposit Accounts with Credit Unions and Financial Cooperatives Per 1000 Adults for Samoa' metric tracks the penetration of credit union and cooperative financial services among the adult population. This data point is valuable for analyzing financial development and the degree to which Samoans are integrated into the formal banking system.
Methodology
The data is collected and reported by the World Bank as part of its Global Financial Inclusion (Global Findex) Database.
Historical Context
This indicator is used by policymakers, financial institutions, and development organizations to monitor financial inclusion and identify opportunities to expand access to banking services.
Key Facts
- Samoa had 522 deposit accounts per 1,000 adults in 2017.
- Financial inclusion is a key priority for Samoa's economic development.
- Credit unions and cooperatives play a significant role in Samoa's financial services landscape.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the number of deposit accounts with credit unions and financial cooperatives per 1,000 adults in Samoa. It provides insights into the level of financial inclusion and access to formal banking services within the country.
Q: Why is this trend relevant for users or analysts?
A: This data point is valuable for analyzing financial development and the degree to which Samoans are integrated into the formal banking system. It is used by policymakers, financial institutions, and development organizations to monitor financial inclusion and identify opportunities to expand access to banking services.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank as part of its Global Financial Inclusion (Global Findex) Database.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers, financial institutions, and development organizations to monitor financial inclusion and identify opportunities to expand access to banking services in Samoa.
Q: Are there update delays or limitations?
A: The data is published by the World Bank on a periodic basis, and there may be some delays in reporting due to the time required for data collection and verification.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Deposit Accounts with Credit Unions and Financial Cooperatives Per 1000 Adults for Samoa (WSMFCAODUANUM), retrieved from FRED.