Use of Financial Services, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for Solomon Islands
SLBFCLODUXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
46,000,000.00
Year-over-Year Change
39.39%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits held at credit unions and financial cooperatives in the Solomon Islands. It provides insight into the utilization of financial services and the level of savings and deposits in the country's cooperative banking sector.
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, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for Solomon Islands tracks the total value of deposits held by individuals and businesses at these cooperative financial institutions. This metric helps economists and policymakers understand the level of financial inclusion and the role of alternative banking providers in the Solomon Islands economy.
Methodology
The data is collected directly from credit unions and financial cooperatives operating in the Solomon Islands.
Historical Context
This trend is useful for analyzing financial system development and access to banking services in the Solomon Islands.
Key Facts
- The Solomon Islands has over 30 active credit unions and financial cooperatives.
- Cooperative banking accounts for a significant portion of financial services in rural areas.
- Deposits at these institutions have grown steadily in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits held at credit unions and financial cooperatives in the Solomon Islands.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and the role of alternative banking providers in the Solomon Islands economy.
Q: How is this data collected or calculated?
A: The data is collected directly from credit unions and financial cooperatives operating in the Solomon Islands.
Q: How is this trend used in economic policy?
A: This trend is useful for analyzing financial system development and access to banking services in the Solomon Islands.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis, but there may be some delay in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for Solomon Islands (SLBFCLODUXDC), retrieved from FRED.