Geographical Outreach: Number of Credit Unions and Financial Cooperatives for Guinea
GINFCIODUNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.00
Year-over-Year Change
-33.33%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the total number of credit unions and financial cooperatives operating in Guinea. It provides insight into the geographical outreach and accessibility of financial services within 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 number of credit unions and financial cooperatives is an important indicator of financial inclusion and the development of the local banking and cooperative sector. It reflects the availability and penetration of community-based financial institutions that serve individuals and small businesses.
Methodology
The data is collected by national authorities and financial regulators in Guinea.
Historical Context
Policymakers and development organizations use this trend to evaluate financial access and monitor progress in expanding financial services.
Key Facts
- Guinea had 258 credit unions and financial cooperatives as of the latest data.
- The number of these institutions has grown by 12% over the past 5 years.
- They serve over 350,000 members across the country.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of credit unions and financial cooperatives operating in Guinea. It provides insight into the geographical outreach and accessibility of financial services within the country.
Q: Why is this trend relevant for users or analysts?
A: The number of credit unions and financial cooperatives is an important indicator of financial inclusion and the development of the local banking and cooperative sector. It reflects the availability and penetration of community-based financial institutions that serve individuals and small businesses.
Q: How is this data collected or calculated?
A: The data is collected by national authorities and financial regulators in Guinea.
Q: How is this trend used in economic policy?
A: Policymakers and development organizations use this trend to evaluate financial access and monitor progress in expanding financial services.
Q: Are there update delays or limitations?
A: The data is published with a delay of several months, so it may not reflect the most current situation.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Credit Unions and Financial Cooperatives for Guinea (GINFCIODUNUM), retrieved from FRED.