Economy, finances, management: Topical issues of science and practical activity


Issue №: 1 (63)

Published: 2023.05.12
DOI: 10.37128/2411-4413-2023-1

The journal deals with the issues of efficiency of functioning of the national economics and organizational forms of management of the national economy. Attention is paid to the problems of marketing, management and efficiency of production and economic activity of agrarian enterprises. The issues of public administration and administration, accounting and taxation, banking and insurance, forecasting and modeling of economic processes, foreign economic activity, commodity flows of economic entities and their infrastructure support.

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DOI: 10.37128/2411-4413-2023-1-2
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ANTONIUK Oksana – Candidate of Economic Sciences, Associate Professor of the Department of Accounting, Auditing and Finance, University of Economics and Entrepreneurship (29013, Khmelnytskyi, 13, Heroiv Maidanu Str., e-mail: antonuk071984@gmail.com).

SHEVCHUK Yaroslav – Doctor of Economic Sciences, Professor of the Department of Accounting, Auditing and Finance, University of Economics and Entrepreneurship (29013, Khmelnytskyi, 13, Heroiv Maidanu Str., e-mail: antonuk071984@gmail.com).


The article examines the theoretical and practical principles of the functioning of credit unions in Ukraine at the current stage. Scientific and methodical approaches to defining the economic category «credit cooperation» have been analyzed. It was determined that in Ukraine the credit cooperation functions in the form of credit unions. The definition of a credit union as a non-profit organization founded by individuals, trade unions, and their associations on a cooperative basis with the aim of meeting the needs of its members in mutual lending and providing financial services at the expense of the combined monetary contributions of the members of the credit union is generalized. The impact of the credit cooperatives on the development of economic entities at the level of social well-being of the population and the national economy as a whole has been studied. It was established that credit unions belong to high-risk financial institutions, since they operate with citizens’ funds, they occupy a special place among the majority of financial intermediaries operating in the financial services market of Ukraine.

It has been proven that the difference of credit unions and at the same time their advantage among the other financial and credit institutions lies in the ability to accumulate cheap monetary resources, use them to develop business needs and increase consumer demand. The influence of the military-political crisis on the work of the non-banking sector of the economy, in particular, on credit cooperation, is determined. The financial indicators of credit unions in Ukraine were analyzed and it was stated that these indicators have been deteriorating since 2018. A retrospective assessment of subjective and objective factors affecting the functioning of credit unions was carried out, and problems and prospects for their development were outlined. A number of problems are listed, the solution of which will allow credit unions in Ukraine to return to an effective direction. It was determined that the introduction of a system of control over the activities of credit unions, the introduction of strict regulations and requirements regarding the adequacy of own capital will contribute to the development of this segment of the financial services market. A method of solving the problems of the operation of credit unions is proposed, which lies in the plane of professional organizations through the centralization of some functions in order to make them cheaper, the creation of accumulative funds for development and education.

Keywords: financial services market, credit union, credit cooperative, National Bank of Ukraine, lending, financial market, financial resources

List of references

1. Babenko, S.H., Helei, S.D., Honcharuk, Ya.L. et al. (1995). Istoriia kooperatyvnoho rukhu [History of the cooperative movement]. Lviv: Instytut ukrainoznavstva NANU [in Ukrainian].

2. Pro vnesennia zmin do deiakykh zakonodavchykh aktiv Ukrainy shchodo osoblyvostei diialnosti finansovoho sektoru u zviazku iz vvedenniam voiennoho stanu v Ukraini: Zakon Ukrainy № 2463-IX [On the introduction of changes to some legislative acts of Ukraine regarding the specifics of the financial sector in connection with the introduction of martial law in Ukraine: Law of Ukraine № 2463-IX]. (2022, July 27). zakon.rada.gov.ua. Retrieved from: https://zakon.rada.gov.ua/laws/show/2463-20#Text [in Ukrainian].

3. Pro kredytni spilky: Zakon Ukrainy № 2908-III [About credit unions: Law of Ukraine]. (2001, December 20). zakon.rada.gov.ua. Retrieved from: https://zakon.rada.gov.ua/laws/show/2908-14#Text [in Ukrainian].

4. Krykhovetska, Z.M., & Foros, L.R. (2018). Analiz diialnosti ta perspektyv rozvytku kredytnykh spilok v Ukraini [Analysis of activity and development prospects of credit unions in Ukraine]. Ekonomika i suspilstvo – Economy and society, 19, 1063-1071. DOI: https://doi.org/10.32782/2524-0072/2018-19-159 [in Ukrainian].

5. Malinovska, O. (2015). Kredytni spilky yak dzherelo zabezpechennia kredytnymy resursamy subiektiv maloho biznesu [Credit unions as a source of credit resources for small business entities]. Ekonomichnyi visnyk universytetu – Economic Bulletin of the University, 27 (1), 217-221 [in Ukrainian].

6. Ofitsiinyi sait Natsionalnoho banku Ukrainy [Official website of the National Bank of Ukraine]. bank.gov.ua. Retrieved from: http://www.bank.gov.ua/ [in Ukrainian].

7. Ofitsiinyi sait Natsionalnoi Asotsiatsii Kredytnykh Spilok Ukrainy [Official site of the National Association of Credit Unions of Ukraine]. unascu.org.ua. Retrieved from: http://www.unascu.org.ua/ [in Ukrainian].

8. Richnyi zvit Natsionalnoi komisii, shcho zdiisniuie derzhavne rehuliuvannia u sferi rynkiv finansovykh posluh [Annual report of the National Commission, which carries out state regulation in the field of financial services markets]. nfp.gov.ua. Retrieved from: https://www.nfp.gov.ua/files/ZVIT2017/%D0%97%D0%92% D0%86%D0%A2_2018.pdf [in Ukrainian].

9. Slaviuk, R. (2000). Kooperatyvni kredytni ustanovy u finansovomu zabezpechenni rozvytku ahrarnoho biznesu [Cooperative credit institutions in financial support for the development of agrarian business]. Finansy Ukrainy – Finances of Ukraine, 2 (50), 96-103 [in Ukrainian].

10. Kravets, V., & Saienko, O. (2013) Vplyv finansovykh instytutiv na zadovolennia spozhyvchykh potreb v ekonomichnii systemi Ukrainy [The influence of financial institutions on the satisfaction of consumer needs in the economic system of Ukraine]. Naukovyi visnyk Chernivetskoho universytetu. Ekonomika – Scientific Bulletin of Chernivtsi University. Economy, 650-652, 86-92 [in Ukrainian].

11. Salo, I. (2007) Problemy ukrainskoho rynku M&A na suchasnomu etapi yoho rozvytku [Problems of the Ukrainian M&A market at the current stage of its development]. Visnyk Ukrainskoi akademii bankivskoi spravy – Bulletin of the Ukrainian Academy of Banking, 1, 96-103 [in Ukrainian].

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About journal

Topics of the journal:

051 Economics

071 Accounting and taxation

072 Finance, banking and insurance

073 Management

075 Marketing

076 Business, trade and exchange activities

241 Hotel, restaurant and catering 

281 Public administration


Key information:
ISSN (print): 2411-4413
DOI: 10.37128

The journal “Economy, finances, management: Topical issues of science and practice” is included in the "List of Scientific Professional Editions of Ukraine". 

The scientific edition is assigned the Category "Б" in the field of economics in specialties 051, 071, 072, 073, 075, 076, 241, 281

(Order of the Ministry of Education and Science of Ukraine No. 249, March 17, 2020).

The journal “Economy, finances, management: Topical issues of science and practice” has a Digital Object Identifier (DOI)

The journal “Economy, finances, management: Topical issues of science and practice” is indexed in such database as Index Copernicus Value (https://journals.indexcopernicus.com/search/form)


The editorial board of the journal is guided by the principles of scientific, objectivity, professionalism, informational support of the most significant innovative researches, observance of standards of publishing ethics.

The purpose of the journal "Economics, finances, management: Topical issues of science and practical activity» is the coverage of leading scientific ideas in the economic, financial and management activities of the sectors of the national economy and the involvement of representatives of the domestic and foreign scientific professional community.


Objectives of the journal:

  • publication of research findings on innovation in the economy, financial and management spheres, innovation of production processes;
  • expanding partnerships with international scientific publishing organizations;
  • enhancing the culture of reviewing and annotating published material;
  • adherence to editorial ethics.


Article publishing is a paid service. Cost for printing in professional publications in accordance with the Decree of the Cabinet of Ministers of Ukraine of August 27, 2010 No. 796 "On approval of the list of paid services that can be provided by state educational institutions, other institutions of the educational system belonging to state and communal ownership" and the order Rector of the Higher Education University Mazura VA dated March 14, 2018 No. 93 “On setting the cost of printing in professional editions of the University”.

The cost of printing one page in professional editions of the university is 60 UAH.

An additional copy of the magazine with the mailing list costs 450 UAH.

Recipient: Vinnytsia National Agrarian University MFO 820172 Current account No. 31256282102055 Code 00497236 Bank State Treasury Service of Ukraine, Kyiv. VAT payer code 004972302286. Registration number 100271744. Purpose of payment: for printing an article in the journal: ”Economy, finances, management: Topical issues of science and practical activity "

History of journal:

It was founded in 1997 under the name "Bulletin of the Vinnytsia State Agricultural Institute". In 2010-2014 he was published under the title “Collection of scientific works of Vinnitsa National Agrarian University”.

From 2015 ”Economy, finances, management: Topical issues of science and practical activity” (Certificate of State Registration of Mass Media No. 21154-10954 of PR as of December 31, 2014)

According to the decision of National Council of Television and Radio Broadcasting of Ukraine from 25.04.2024 No. 1337 the scientific journal «Economy, finances, management: topical issues of science and practical activity» has the ID of the Media R30-05171.