Use of Financial Services: Key Indicators, Outstanding Loans from Credit Unions and Financial Cooperatives for Canada
CANFCSODUGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.84
Year-over-Year Change
29.50%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding loans from credit unions and financial cooperatives in Canada as a percentage of GDP. It provides insights into the role of these institutions in the Canadian financial system.
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: Key Indicators, Outstanding Loans from Credit Unions and Financial Cooperatives for Canada series tracks the total value of outstanding loans from credit unions and financial cooperatives relative to the country's gross domestic product. This metric offers a perspective on the significance of these institutions within the broader Canadian financial landscape.
Methodology
The data is collected and reported by the Bank of Canada.
Historical Context
This trend is useful for analyzing the evolution of the credit union and cooperative finance sectors in Canada and their impact on the overall financial market.
Key Facts
- Credit unions and financial cooperatives hold over 10% of Canada's total financial assets.
- The outstanding loans from these institutions have grown by over 30% in the last decade.
- Canada has one of the highest rates of credit union and cooperative finance participation among OECD countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total outstanding loans from credit unions and financial cooperatives in Canada as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the significance of credit unions and financial cooperatives within the Canadian financial system and their role in supporting the broader economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bank of Canada.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor the health and growth of the credit union and cooperative finance sectors in Canada and their impact on financial inclusion and access to credit.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Bank of Canada, with a typical lag of 3-6 months.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Loans from Credit Unions and Financial Cooperatives for Canada (CANFCSODUGGDPPT), retrieved from FRED.