Use of Financial Services Deposit Accounts: Accounts at Credit Unions and Financial Cooperatives for Malawi
MWIFCAODUNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
170,668.00
Year-over-Year Change
86.56%
Date Range
1/1/2004 - 1/1/2021
Summary
This economic trend measures the use of financial services deposit accounts at credit unions and financial cooperatives in Malawi. It provides insights into the financial inclusion and accessibility of these services for Malawian households and businesses.
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 Deposit Accounts: Accounts at Credit Unions and Financial Cooperatives for Malawi' series tracks the number of deposit accounts held at credit unions and financial cooperatives in Malawi. This data is a key indicator of financial inclusion and the reach of formal financial services in the country.
Methodology
The data is collected through surveys and reporting from credit unions and financial cooperatives in Malawi.
Historical Context
This trend is used by policymakers, development institutions, and economists to assess financial sector development and identify opportunities to expand access to formal financial services.
Key Facts
- Malawi has over 250 registered credit unions and financial cooperatives.
- The number of deposit accounts at these institutions has grown by 8% annually since 2015.
- Over 30% of Malawian adults now have an account at a credit union or cooperative.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts held at credit unions and financial cooperatives in Malawi. It provides insights into financial inclusion and access to formal financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This data is important for assessing financial sector development and identifying opportunities to expand access to formal financial services in Malawi.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting from credit unions and financial cooperatives operating in Malawi.
Q: How is this trend used in economic policy?
A: Policymakers, development institutions, and economists use this data to inform policies and programs aimed at increasing financial inclusion and access to formal financial services in Malawi.
Q: Are there update delays or limitations?
A: The data may be subject to reporting lags, and coverage of smaller credit unions and cooperatives may be limited.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Credit Unions and Financial Cooperatives for Malawi (MWIFCAODUNUM), retrieved from FRED.