Use of Financial Services Borrowers: Persons Borrowing from Credit Unions and Financial Cooperatives for Colombia
COLFCRODUPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
320,041.00
Year-over-Year Change
50.77%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of persons borrowing from credit unions and financial cooperatives in Colombia. It provides insight into consumer financial services usage and access to credit in the Colombian market.
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 Borrowers: Persons Borrowing from Credit Unions and Financial Cooperatives for Colombia' trend tracks the total number of individuals who have taken out loans from credit unions and cooperative financial institutions in the country. This data point is used by economists and policymakers to analyze trends in consumer credit access and financial inclusion.
Methodology
The data is collected and reported by the Superintendencia Financiera de Colombia, the country's financial regulatory authority.
Historical Context
This trend is relevant for understanding the Colombian consumer credit market and financial sector development.
Key Facts
- Credit unions and cooperatives provide a significant source of consumer loans in Colombia.
- The number of borrowers from these institutions has increased in recent years.
- Financial inclusion is a key policy priority for the Colombian government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals who have taken out loans from credit unions and cooperative financial institutions in Colombia.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer access to credit and financial inclusion in the Colombian market, which is important for understanding broader economic and financial sector developments.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Superintendencia Financiera de Colombia, the country's financial regulatory authority.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and economists analyzing financial sector development and consumer credit access in Colombia.
Q: Are there update delays or limitations?
A: The data is reported with a short lag, typically 1-2 months behind the current period.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Persons Borrowing from Credit Unions and Financial Cooperatives for Colombia (COLFCRODUPENUM), retrieved from FRED.