Prospects of credit unions’ development as a necessary tool for providing financial services

Authors

DOI:

https://doi.org/10.15587/2312-8372.2014.27935

Keywords:

credit, credit union, commercial bank, financial institution, pawnshop, the All-Ukrainian Association of Credit Unions

Abstract

The paper examines recent trends in the development of credit unions and defines priority areas of their future activities. In particular, a detailed analysis of the Ukraine’s credit unions state, focusing on the causes of problems in the activity of credit unions, is made. The purpose of this paper is to analyze the efficiency of the credit unions’ development and their importance as a tool of providing financial services.

A statistical analysis of the credit unions makes it possible to assess the real state of the prospects for the credit unions’ development in Ukraine and the appropriateness of their creation.

The paper results can be used for further research and improvement in this area.

Also, directions and areas for improving credit unions in the Ukrainian market of financial services are proposed. First of all, we have proposed to improve the monitoring of financial transactions carried out by credit unions from the state because the state is a guarantor of public confidence in such financial institutions.

Author Biography

Ольга Ярославівна Маліновська, Lviv State Academy of Finance, Kopernik Street, Lviv, 79000

Candidate of Economics, Assistant Professor

Department of economics, management and public administration

References

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Published

2014-10-02

How to Cite

Маліновська, О. Я. (2014). Prospects of credit unions’ development as a necessary tool for providing financial services. Technology Audit and Production Reserves, 5(3(19), 59–62. https://doi.org/10.15587/2312-8372.2014.27935

Issue

Vol. 5 No. 3(19) (2014): Fundamental and applied researches: integration into the world scientometric databases

Section

Development of Productive Forces and Regional Economy: Original Research

License

Copyright (c) 2016 Ольга Ярославівна Маліновська

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