Issue №: 1 (63)
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.
PROBLEMS AND PROSPECTS OF FUNCTIONING OF CREDIT UNIONS IN UKRAINE
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.
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About journal
051 Economics
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073 Management
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241 Hotel, restaurant and catering
281 Public administration
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
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