Use of Financial Services: Number of Depositors which are Households at Credit Unions and Financial Cooperatives for Samoa
WSMFCDODUHPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,304.00
Year-over-Year Change
1452.38%
Date Range
1/1/2012 - 1/1/2023
Summary
This economic trend measures the number of households that are depositors at credit unions and financial cooperatives in Samoa. It provides insight into the level of household participation in the Samoan financial services 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: Number of Depositors which are Households at Credit Unions and Financial Cooperatives for Samoa' series tracks the total number of household-based deposit accounts held at credit unions and financial cooperatives in Samoa. This metric helps economists and policymakers understand the degree of financial inclusion and access to basic banking services among Samoan households.
Methodology
The data is collected directly from credit unions and financial cooperatives operating in Samoa.
Historical Context
This trend is relevant for understanding financial market development and household financial behavior in Samoa.
Key Facts
- Samoa has over 30 registered credit unions and financial cooperatives.
- Household deposit accounts make up over 80% of total deposit accounts at these institutions.
- The trend has shown steady growth in Samoan household participation in the formal financial sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held by households at credit unions and financial cooperatives in Samoa.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and access to basic banking services among Samoan households, which is important for understanding financial market development and household financial behavior in the country.
Q: How is this data collected or calculated?
A: The data is collected directly from credit unions and financial cooperatives operating in Samoa.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the development of the Samoan financial sector and the degree of household participation in formal financial services.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis, but there may be some delays in reporting from individual institutions.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors which are Households at Credit Unions and Financial Cooperatives for Samoa (WSMFCDODUHPENUM), retrieved from FRED.