The activities of credit unions on financial market of Ukraine
Journal Title: Науковий вісник Полтавського університету економіки і торгівлі. Серія "Економічні науки" - Year 2015, Vol 2, Issue 71
Abstract
The aim of the article is to identify the place and role of credit unions at the financial market of Ukraine in modern conditions of its functioning and development. The article investigates the credit unions' economic nature features and analysis of their activities during the period from 2011 to 2014. It was found that credit unions' development within the financial market of Ukraine is inherent negative trends (falling revenue, reducing the total number of members, total assets, capital and contributions to savings accounts) and risks. The creation of the Deposit Guarantee Fund members of credit unions with a view to support the maintenance of financial stability, liquidity and enhance the protection of members of credit unions was proposed and the rationale of it was justified. The article proved that creating a fund to guarantee deposits of credit union members will strengthen the ability of the latter to rapid refinancing and generally enhance their current liquidity. The main scientific provisions of paper can be used in the qualitative improvement of the legal framework of state regulation of the financial market of Ukraine in general and credit cooperative sector in particular.
Authors and Affiliations
R. Kramchenko
Keywords
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