Розвиток кредитних спілок в Україні

Abstract

Non-banking financial institutions, which include credit unions, is a important tool for solving the social and financial problems of the categories of people who are most in need. The credit cooperation movement is an important component of the social economy, as it contributes to the self-organization of people and the formation of civil society. The purpose of the article is to reveal the essence and significance of credit unions in the development of the country's economy and the well-being of its households, to identify trends in their development in the world and in Ukraine, to justify the conditions necessary for the manifestation of positive quantitative and qualitative changes in their activities. The historical background of the development of credit unions and the direction of their further evolution were disclosed. The functions of modern credit unions were determined. The analysis of quantitative and qualitative changes occurring in the activity of credit unions in Ukraine and in the world was carry out, and the factors that caused them were identified. In 2017, the average-statistical Ukrainian credit union totaled about 1490 members; thus, it was not numerous compared to the world average - 2920 members. It was determined that the credit unions, which have more members, are more resistant to the effects of negative factors. The structure of the loan portfolio of credit unions has remained virtually unchanged for many years, while the structure of the deposit portfolio tends to improve due to an increase in the share of long-term deposits. It was revealed that after an eight-year recession, in 2017 the stage of a gradual rise in the development of credit unions of Ukraine began. This trend may continue in subsequent years if: there will be no crisis situations in the economy; the problem of guaranteeing deposits of members of credit unions will be solved; the financial competence of managers and members of credit unions will rise; state and self-governing organizations will conduct the effective control over the financial condition of credit unions.