Abstract
Credit unions have been functioning on the financial market of Ukraine for more than twenty years, and necessity of their existence is still questionable. Imperfect system which controls credit unions in our country often leads to distorted activity. Investigating the uniqueness of the world credit unions and basic principles of their activity stipulated the necessity of a completely new approach to the evaluation of credit unions positions in the world market of financial services. Due to the analysis of penetration it is educed that credit unions embrace a substantial financial market share on different world continents. A cluster analysis revealed that credit unions with the similar functions belong to the same cluster. After investigation of management monitoring systems of credit unions in different countries it has been established that these systems are rather «ex»/ «post» indicators of the present credit unions problems. Relations between regulators and credit unions are of different types. «Three Bucket Approach» methodology for credit unions and theoretical aspects of the methodology, which involves reserve formation on loans and its application have been considered.
Highlights
According to data of WOCCU (World Council of Credit Unions) there are more than 60 thousand credit unions in the world in 105 countries
Cluster analysis confirms that the respective clusters comprise credit unions from the countries with approximately the same level of economic development
Every of the management systems has been characterized and it has been determined that the relationship between regulators and credit unions are intertype
Summary
Research of influence of the chosen factors on penetration of credit unions for 105 countries of the world WOCCU members The second largest cluster includes countries where credit unions perform a function of small banks, and which have been operating and developing over relatively long periods of time.
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