Use of Financial Services, Assets: Outstanding Loans at Credit Unions and Financial Cooperatives for Barbados
BRBFCSODUXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,088,875,750.41
Year-over-Year Change
67.84%
Date Range
1/1/2008 - 1/1/2024
Summary
This economic trend measures the outstanding loans at credit unions and financial cooperatives in Barbados. It provides insights into the lending activities and financial health of these important community-based 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 Use of Financial Services, Assets: Outstanding Loans at Credit Unions and Financial Cooperatives for Barbados trend tracks the total value of outstanding loans held by credit unions and other cooperative financial institutions in the country. This metric is used by economists and policymakers to assess the access to and utilization of community-based financial services.
Methodology
The data is collected through surveys and reporting by credit unions and cooperatives in Barbados.
Historical Context
This trend is relevant for understanding the role of credit unions and cooperatives in providing financial services and credit to individuals and small businesses in the Barbadian economy.
Key Facts
- Barbados has over 30 registered credit unions and financial cooperatives.
- Credit unions hold over $1 billion in assets in Barbados.
- Cooperative lending accounts for 20% of total financial services in Barbados.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total outstanding loans held by credit unions and financial cooperatives in Barbados. It provides insights into the lending activities and access to community-based financial services.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the role of credit unions and cooperatives in providing financial services and credit to individuals and small businesses in the Barbadian economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting by credit unions and cooperatives in Barbados.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the health and impact of community-based financial institutions in Barbados.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag, and may be subject to revisions by the reporting institutions.
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Citation
U.S. Federal Reserve, Use of Financial Services, Assets: Outstanding Loans at Credit Unions and Financial Cooperatives for Barbados (BRBFCSODUXDC), retrieved from FRED.