Діяльність кредитних спілок на ринку фінансових послуг: стан, тенденції, перспективи

Abstract

UK: В роботі розглянуто основні аспекти функціонування кредитних спілок на вітчизняному ринку фінансових послуг, їх роль і задачі в сучасній фінансовій системі; проаналізовано стан розвитку, проблеми діяльності та обґрунтовані напрямки активізації потенціалу кредитних спілок. EN: Credit unions are part of the country's financial system and an important participant in the financial services market. Their main function is to provide deposit and credit and other related financial services to its members - individuals, small farms and farms, small businesses. In recent years, the number of credit unions and the scale of their activities have begun to decline rapidly, and this process continues. Financially unstable credit unions with a low level of management and bankrupt unions have disappeared from the financial services market. The remaining credit unions have relatively good performance and are the basis for further development of credit cooperation in Ukraine. The number of credit unions in 2019-2020 decreased by 15 units and the downward trend continues. Thus, in 2020, there were 322 credit unions in Ukraine, with 427 members. About 24.2% of members of credit unions had current loan agreements, 4.5% had deposits on deposit accounts. The scale of lending by the unions of its members for the analyzed period is increasing - in 2020 compared to the previous period by UAH 89.5 million. This is against the background of an increase in deposits of credit union members - 2.3 times compared to 2016, and 1.6 times compared to 2019. The advantages of credit unions as financial institutions are non-profit status, which helps reduce the overall cost of organizing its activities; lack of hidden interest and commissions that increase the total cost of consumers to service the loan. The cooperative nature of credit unions contributes to the interest of its members in effective cooperation, development and reliability of the institution (that is the involvement of members of the credit union in its results). Besides it is possible to note democracy, interest, personalization in work of system of credit cooperation. The decline in the popularity of credit unions in the financial market of Ukraine is due to many reasons: low capitalization, limited customer base, low level of information technology, remote customer service opportunities, significant financial risks (late and incomplete fulfillment of obligations to customers, lack of deposit guarantee system). Against this background, the unprofitability of credit unions is growing. The situation with the pandemic in 2020 made a negative contribution. Among non-bank financial institutions, credit unions proved to be the most vulnerable to quarantine restrictions. Effective development and intensification of credit unions in the market requires transformations in the credit cooperation market. First, it is the improvement of the regulatory framework based on a proportional approach; introduction and use of digitalization opportunities, wider online customer service of unions; attracting new participants - among the young, financially literate generation.