Geographical Outreach: Number of Credit Unions and Financial Cooperatives for Philippines
PHLFCIODUNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.00
Year-over-Year Change
-43.59%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of credit unions and financial cooperatives operating in the Philippines. It provides insights into the geographical outreach and accessibility of 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 number of credit unions and financial cooperatives in the Philippines is an important indicator of financial inclusion and the development of the cooperative banking sector. It reflects the ability of these institutions to expand their physical presence and serve diverse communities across the country.
Methodology
The data is collected and reported by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Historical Context
Policymakers and financial regulators use this trend to assess the progress in financial deepening and evaluate the effectiveness of initiatives to promote cooperative finance.
Key Facts
- The number of credit unions and financial cooperatives in the Philippines has grown steadily over the past decade.
- These institutions play a crucial role in providing financial services to underserved communities and rural areas.
- The Philippines has one of the largest cooperative banking sectors in Southeast Asia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of credit unions and financial cooperatives operating in the Philippines, providing insights into the geographical outreach and accessibility of financial services in 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 cooperative banking sector in the Philippines. It helps policymakers and analysts assess progress in financial deepening and the effectiveness of initiatives to promote cooperative finance.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Q: How is this trend used in economic policy?
A: Policymakers and financial regulators use this trend to evaluate the progress in financial deepening and the effectiveness of initiatives to promote cooperative finance in the Philippines.
Q: Are there update delays or limitations?
A: The data is regularly updated by the Bangko Sentral ng Pilipinas, but there may be occasional delays in reporting or changes in methodology over time.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Credit Unions and Financial Cooperatives for Philippines (PHLFCIODUNUM), retrieved from FRED.