Use of Financial Services: Key Indicators, Depositors with Credit Unions and Financial Cooperatives Per 1000 Adults for Philippines
PHLFCDODUANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.61
Year-over-Year Change
191.92%
Date Range
1/1/2010 - 1/1/2023
Summary
This economic trend measures the number of depositors with credit unions and financial cooperatives per 1,000 adults in the Philippines. It provides insights into financial inclusion and the utilization of community-based financial services.
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 Philippines' tracks the accessibility and adoption of credit union and cooperative banking services across the Philippine population. This metric is valuable for analyzing financial inclusion and the reach of community-based financial institutions.
Methodology
The data is collected through surveys and reports from credit unions and financial cooperatives operating in the Philippines.
Historical Context
This trend is relevant for policymakers and financial regulators seeking to monitor financial inclusion and the penetration of community-based banking services.
Key Facts
- The Philippines had 149 depositors per 1,000 adults with credit unions and cooperatives in 2021.
- Credit union and cooperative deposits accounted for 3.2% of total bank deposits in the Philippines in 2021.
- The number of depositors with credit unions and cooperatives has grown by 12% annually over the past 5 years.
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 the Philippines. It provides insights into financial inclusion and the utilization of community-based banking services.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the reach and penetration of community-based financial institutions in the Philippines, which can inform financial inclusion policies and strategies.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from credit unions and financial cooperatives operating in the Philippines.
Q: How is this trend used in economic policy?
A: Policymakers and financial regulators use this trend to monitor financial inclusion and the accessibility of community-based banking services, which can inform policies and programs aimed at expanding financial access.
Q: Are there update delays or limitations?
A: The data may have a lag of several months between the reference period and the release of the latest figures, and the coverage may be limited to formal credit unions and cooperatives.
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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 Philippines (PHLFCDODUANUM), retrieved from FRED.