Geographical Outreach: Number of Credit Unions and Financial Cooperatives for Barbados
BRBFCIODUNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.00
Year-over-Year Change
-28.57%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend tracks the number of credit unions and financial cooperatives operating in Barbados, providing insights into the geographical outreach and accessibility of these important financial institutions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'Geographical Outreach: Number of Credit Unions and Financial Cooperatives for Barbados' series measures the total count of these community-based financial organizations serving the Barbadian market. This data is used by economists and policymakers to assess the breadth of financial inclusion and the strength of the cooperative banking sector.
Methodology
The data is collected by the Central Bank of Barbados through regulatory filings and industry surveys.
Historical Context
Trends in the number of credit unions and cooperatives are closely monitored as indicators of financial sector development and access to basic banking services.
Key Facts
- Barbados has one of the highest credit union membership rates in the Caribbean region.
- Credit unions provide essential savings, lending, and payment services to underserved communities.
- The cooperative banking sector accounts for over 25% of total financial assets in Barbados.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the total number of credit unions and financial cooperatives operating in Barbados, providing insights into the geographical outreach and accessibility of these community-based financial institutions.
Q: Why is this trend relevant for users or analysts?
A: Trends in the number of credit unions and cooperatives are closely monitored as indicators of financial sector development and access to basic banking services, especially in underserved communities.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Barbados through regulatory filings and industry surveys.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the strength and reach of the cooperative banking sector, which is an important component of Barbados' financial system and supports financial inclusion efforts.
Q: Are there update delays or limitations?
A: The data is published on a regular basis with minimal delays, providing timely insights into the evolving landscape of credit unions and financial cooperatives in Barbados.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Credit Unions and Financial Cooperatives for Barbados (BRBFCIODUNUM), retrieved from FRED.