Use of Financial Services: Number of Depositors at Credit Unions and Financial Cooperatives for Rwanda
RWAFCDODUPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,796,456.00
Year-over-Year Change
289.84%
Date Range
1/1/2007 - 1/1/2023
Summary
This economic trend measures the number of depositors at credit unions and financial cooperatives in Rwanda. It provides insight into the use of formal 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 'Use of Financial Services: Number of Depositors at Credit Unions and Financial Cooperatives for Rwanda' series tracks the total number of account holders with these types of financial institutions. It offers a view into financial inclusion and the reach of the cooperative banking sector.
Methodology
The data is collected through surveys and reporting by credit unions and cooperatives.
Historical Context
This trend is relevant for assessing financial development and access to banking services in Rwanda.
Key Facts
- Rwanda has over 400 registered credit unions and cooperatives.
- The number of depositors has grown by over 50% in the past decade.
- Credit unions account for nearly 20% of total bank deposits in Rwanda.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of account holders or depositors at credit unions and financial cooperatives in Rwanda.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into financial inclusion and the reach of the cooperative banking sector in Rwanda.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting by the credit unions and cooperatives themselves.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess financial development and access to banking services in Rwanda.
Q: Are there update delays or limitations?
A: The data may have some reporting lags, but it generally provides a reliable and timely view of the cooperative banking sector.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Credit Unions and Financial Cooperatives for Rwanda (RWAFCDODUPENUM), retrieved from FRED.