УДОСКОНАЛЕННЯ РОЗВИТКУ СИСТЕМИ КРЕДИТНИХ СПІЛОК УКРАЇНИ

Abstract

Theoretical and practical recommendations for improving the functioning of credit unions in Ukraine are offered. It is determined that to increase the competitiveness of credit unions need to: change their organizational structure and risk management in accordance with the conditions of the rural economy; Participate in regional and national initiatives that can grow into cooperatives, implement at the state and regional levels of stabilization and financial recovery of credit unions, create a system of insurance and guarantee deposits from financial risks, initiate the creation of credit bureaus to form a single database of borrowers, which will reduce the share of overdue and non-performing loans. The need to accelerate the process of forming strong associations, the activities of which will contribute to the development and implementation of uniform rules of conduct in the cooperative lending market, professional and technological standards of credit unions, raising the image and confidence in credit unions; to make one of the priority directions of development of organizational integration the formation of a single self-regulatory organization of credit unions in the form of an allUkrainian association of unions. It is proposed to intensify the introduction of the latest financial instruments, in particular such as savings certificates. Proven need to allow credit unions to raise funds on deposit accounts through the sale of savings certificates, these financial services for credit unions are currently unavailable and are not used in practice. It is necessary to open access for unions to foreign exchange transactions, which will contribute to the accumulation of additional assets, to form service infrastructure institutions that should provide services to credit unions. It is established that one of the main priorities for the development of credit cooperation in Ukraine is to gain a competitive position in the financial services market and ensure quality service to members of credit unions by expanding the range of financial services and ensuring their reliability.