Use of Financial Services: Number of Loan Accounts at Credit Unions and Financial Cooperatives for Colombia
COLFCNODUNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
376,550.00
Year-over-Year Change
56.40%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of loan accounts at credit unions and financial cooperatives in Colombia. It provides insights into the use and access to financial services in the country.
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: Number of Loan Accounts at Credit Unions and Financial Cooperatives for Colombia' series tracks the total number of loan accounts held at these institutions. It is an important indicator of financial inclusion and the level of credit access within the Colombian economy.
Methodology
The data is collected and reported by the Colombian financial regulatory authority.
Historical Context
This trend is closely monitored by policymakers and economists to assess the health of the Colombian financial system and progress on financial inclusion initiatives.
Key Facts
- Colombia has over 200 credit unions and financial cooperatives.
- Loan accounts at these institutions total over 7 million.
- Access to credit is a key driver of economic development.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of loan accounts held at credit unions and financial cooperatives in Colombia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into financial inclusion and access to credit within the Colombian economy, which are important factors for economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Colombian financial regulatory authority.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess the health of the Colombian financial system and progress on financial inclusion initiatives.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis, but there may be occasional delays in publication.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Credit Unions and Financial Cooperatives for Colombia (COLFCNODUNUM), retrieved from FRED.