КРЕДИТНІ СПІЛКИ В УКРАЇНІ: СТАН ТА ПЕРСПЕКТИВИ РОЗВИТКУ

Abstract

The article considers the essence and importance of credit unions in the development of the economy, explores and identifies the main issues of development of these market participants, offers proposals to improve the efficiency of credit unions in Ukraine and assesses the prospects for their development. As a result of our research, we have identified the main features and principles of credit unions. The article notes the differences between credit unions and banking institutions. The role of credit unions in the structure of financial services markets has been determined. It is emphasized that credit unions play an important role not only in the economic development of the state, but also have a significant socio-economic importance for the progressive processes in the country. The key factors influencing the development of credit-cooperative movement and determining the role of credit unions are the following: availability of financial resources of credit unions in comparison with other subjects of financial services markets, which is conditioned by the economic development level of the state; understanding of the co-operative nature of credit unions by the general public as a non-profit public-financial organization, which furthermore greatly promotes institutions, fosters trust and enhances their social significance; proper system of state supervision and regulation of credit cooperation. Credit unions defend the interests of the Union, its shareholders, lenders and national interests in the credit relations process. Credit unions are regarded as an important part of financial market infrastructure by the article author. Such institutions created by a group of people, not for profit, but for the provision of services to its members. The main prerequisite for the effective functioning is the fulfillment of key performance indicators of credit unions. The reasons for Ukraine's lag behind global trends in the development of credit unions are identified, measures are planned that could contribute to the expansion of effective credit unions, the implementation of positive quantitative and qualitative changes in their activities in the coming years.