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

SCIENTIFIC JOURNALS OF VINNITSA NATIONAL AGRARIAN UNIVERSITY

Issue №: 1 (63)

Published: 2023.05.12

DOI: 10.37128/2411-4413-2023-1

Description:
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.

Read about journal

PROBLEMS AND PROSPECTS OF FUNCTIONING OF CREDIT UNIONS IN UKRAINE

DOI: 10.37128/2411-4413-2023-1-2

PDF Повернутись

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).

Annotation

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].

All journal issues

About the journal

Topics of the journal:

С1 Economics and International Economic Relations (by specialization)

D1 Accounting and Taxation

D2 Finance, Banking, Insurance and Stock Market

D3 Management

D4 Public Management and Administration

D5 Marketing

D7 Trade

J3 Tourism and Recreation

Keywords: economics , international economic relations , accounting , taxation , finance , banking , insurance , stock market , management , public management and administration , marketing , trade , tourism and recreation

Key information:

ISSN (print): 2411-4413

DOI: 10.37128

All-Ukrainian scientific and production journal “Economics, finance, management: topical issues of science and practical activity” is a peer-reviewed open-access journal that publishes original research, theoretical articles and reviews on a wide range of economic and business issues. The articles, which have scientific and scientific-practical significance, highlight theoretical and methodological aspects of the development of agrarian sector of economy and related industries, the results of fundamental and applied research.

The purpose of the journal is to highlight the results of fundamental and applied research in the field of economic sciences, aimed at developing modern approaches to managing economic processes, financial support for enterprise activities and increasing the efficiency of economic systems. The publication is focused on creating a scientific environment for the exchange of research results between scientists, higher education students and practitioners in economic sphere, as well as on the dissemination of modern scientific and methodological approaches to solving current economic and management problems. The journal contributes to the development of the research in the field of enterprise economics, finance, accounting, auditing, management, marketing, entrepreneurship, trade, tourism and recreation, public management and administration, economic development and international economic relations, which meets the modern needs of the socio-economic development of the state.

The journal’s objectives are:

• publishing the results of fundamental and applied research in the fields of economics, international economic relations, finance, management, public administration, accounting, marketing, tourism and recreation, and entrepreneurship;

• promoting the development of modern methods of managing enterprises and organizations, increasing the efficiency of using financial and material resources;

• supporting the research aimed at improving the economic mechanisms of enterprise functioning, developing innovative activity, and increasing the competitiveness of economic structures;

• ensuring the scientific exchange of research results between higher education institutions, scientific institutions, and business entities;

• developing methods of economic analysis, forecasting, and modeling of socio-economic processes;

• disseminating of modern approaches to financial management, accounting, taxation, and control of economic activity;

• promoting the development of interdisciplinary research related to the economic support of the development of agrarian sector of economy and rural areas;

• integration of scientific research results into the international scientific space and increasing the level of scientific communication.

Publisher: Vinnytsia National Agrarian University

Link to the journal on the publisher’s website: ”Economics, finance, management: topical issues of science and practical activity”

Frequency of issue: 4 times a year.

Language of publication: Ukrainian, English.

Editor-in-Chief: Inna Honcharuk

State registration: Decision of the National Council of Ukraine on Television and Radio Broadcasting No. 1337 and No. 1178. Media identifier – R30-05171. Publisher registration number (EDRPOU) 00497236.

Publisher’s ROR: https://ror.org/05m3ysc06 Publisher’s DOI prefix: 10.37128 ISSN (print): 2411-4413

Publisher DOI prefix: 10.37128 ISSN (print): 2411-4413

The scientific journal is included in category "B" of the List of scientific professional publications of Ukraine, in which the results of dissertations for the degree of Doctor and Candidate of Sciences in the specialties C1 (051) - Economics, D1 (071) - Accounting and Taxation, D2 (072) – Finance, Banking, Insurance and Stock Market, D3 (073) – Management, D5 (075) – Marketing, D7 (076) – Entrepreneurship and Trade, (241) – Hotel and Restaurant Business, D4 (281) – Public Management and Administration (Order of the Ministry of Education and Science of Ukraine dated March 17, 2020 №409)

History of journal:

Founded in 1997 under the name ”Bulletin of Vinnytsia State Agricultural Institute”. In 2010-2014 it was published under the name “Collection of Scientific Papers of Vinnytsia National Agrarian University”. Since 2015 “Economics, finance, management: current issues of science and practical activity” (Certificate of State Registration of Mass Media No. 21154-10954 PR dated 12/31/2014).