EVALUATION POSITIONS OF CREDIT UNIONS IN THE WORLD MARKET OF FINANCIAL SERVICES

Ruslana Ruska

doi:10.35774/jee2017.02.197

Authors

Ruslana Ruska Ternopil National Economic University

DOI:

https://doi.org/10.35774/jee2017.02.197

Keywords:

Financial system, credit unions, cluster analysis, multidimensional adaptive splines, penetrations, control system, model, «Three Bucket Approach» methodology, loans, backlogs.

Abstract

Credit unions have been functioning on the financial market of Ukraine for more than twenty years, and necessity of their existence is still questionable. Imperfect system which controls credit unions in our country often leads to distorted activity. Investigating the uniqueness of the world credit unions and basic principles of their activity stipulated the necessity of a completely new approach to the evaluation of credit unions positions in the world market of financial services. Due to the analysis of penetration it is educed that credit unions embrace a substantial financial market share on different world continents. A cluster analysis revealed that credit unions with the similar functions belong to the same cluster. After investigation of management monitoring systems of credit unions in different countries it has been established that these systems are rather «ex»/ «post» indicators of the present credit unions problems. Relations between regulators and credit unions are of different types. «Three Bucket Approach» methodology for credit unions and theoretical aspects of the methodology, which involves reserve formation on loans and its application have been considered.

JEL: C40 С80 Е44 F37 O50.

Author Biography

Ruslana Ruska, Ternopil National Economic University

Candidate of Economic Sciences

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