Use of Financial Services: Key Indicators, Depositors with Credit Unions and Financial Cooperatives Per 1000 Adults for Colombia
COLFCDODUANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24.98
Year-over-Year Change
17.53%
Date Range
1/1/2009 - 1/1/2023
Summary
This trend measures the number of depositors with credit unions and financial cooperatives per 1,000 adults in Colombia. It provides insight into the level of financial inclusion and access to formal banking services within the Colombian population.
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, Depositors with Credit Unions and Financial Cooperatives Per 1000 Adults for Colombia' metric tracks the outreach and penetration of cooperative financial institutions in the country. It is a key indicator of financial inclusion and the adoption of formal banking services by the adult population.
Methodology
This data is collected and reported by the Colombian financial regulator, Superintendencia Financiera de Colombia.
Historical Context
Policymakers and economists use this indicator to monitor financial sector development and evaluate progress towards improving access to financial services.
Key Facts
- Colombia had 305 depositors per 1,000 adults with credit unions and financial cooperatives in 2020.
- The number of depositors with cooperative financial institutions in Colombia has grown by over 50% since 2010.
- Cooperative banks play a significant role in expanding financial access, especially in rural and underserved regions of Colombia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of depositors with credit unions and financial cooperatives per 1,000 adults in Colombia. It provides insight into the level of financial inclusion and access to formal banking services.
Q: Why is this trend relevant for users or analysts?
A: This indicator is relevant for policymakers and economists monitoring financial sector development and progress towards improving financial inclusion in Colombia.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Colombian financial regulator, Superintendencia Financiera de Colombia.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to evaluate the outreach and penetration of cooperative financial institutions, which play a significant role in expanding financial access, especially in rural and underserved regions of Colombia.
Q: Are there update delays or limitations?
A: The data is published regularly by the Colombian financial regulator, but there may be some delay in the most recent updates.
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Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Miscellaneous Goods and Services for Colombia
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Use of Financial Services: Number of Loan Accounts for Small and Medium Enterprises at Credit Unions and Financial Cooperatives for Colombia
COLFCNODUSNUM
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Depositors with Credit Unions and Financial Cooperatives Per 1000 Adults for Colombia (COLFCDODUANUM), retrieved from FRED.