Information on the thesis

In dissertation work content of financial intermediation as a basis of functioning of credit unions is revealed in the dissertation. Based on the theoretical generalization of the essence of economic categories, such as “financial intermediation” and “financial intermediary”, the author defines the category “financial intermediary”. It is proved that the organizational model of financial relations in the markets plays an important role in the development of financial intermediation and activities of financial intermediaries in the country’s economy. The work substantiates the relevance of methodological approach to organizational models of mixed financial relations in modern conditions. The role of credit unions in the structure of financial services markets has been determined. Attention is drawn to the fact that credit unions in Ukraine are part of the non-banking financial sector and an important subject of domestic financial services markets. The state of development and prospects of the system of state regulation of credit unions activity were evaluated. The author substantiates modern methodological approaches to reforming the existing sphere of state regulation and supervision in the direction of transfer of regulatory and supervisory functions to a separate body of regulation and supervision in the markets of financial services.

In the analytical part of the dissertation, the author analyzes in detail the methodology of credit unions entering the financial services markets. The author substantiates methodical approaches to raising the requirements for the authorized capital of domestic credit unions. The mechanism of formation of capital of credit unions is analyzed. The author’s approach to determining the category of the mechanism of capital formation of credit unions is presented. Analytical evaluation of this mechanism is carried out, methodological approaches to optimizing the formation of reserve capital, risk management in credit unions and introduction of a system of guaranteeing the deposits of members of credit unions of Ukraine are substantiated. The dissertation gives a deep analysis of the financial practice of credit unions in the financial services markets of Ukraine. The work demonstrates a tendency to reduce competition in this sector of the domestic financial services markets by reducing their activity and increasing the concentration of assets in a small group of the largest and largest (according to their size) credit union assets. In the credit portfolio of credit unions of Ukraine there is a significant predominance of consumer loans, which indicates that they can achieve significant social effect due to financial activity. Taking into account the identified trends, the author substantiates practical recommendations for improving the efficiency and benefits of credit unions in the domestic financial services markets.

At the end of the dissertation, the author analyzed the possibilities of applying foreign experience in the practice of regulating financial services markets. The author formulates concrete proposals for the possible implementation of international standards of credit cooperation in Ukrainian practice for the creation of a system of obligatory state insurance of deposit unions of credit unions, the application of a new reserve in the Ukrainian regulatory practice in order to cover losses on default of loans, The influence of the socio-economic development of the country on the level of credit cooperation has been determined. The author reveals a slight influence of the level of socio-economic development of the state on the level of penetration in its credit cooperation, but it is proved that the economic characteristics of credit unions, such as the size of deposits and loans provided, clearly correlates with the indicators of economic development of the country’s economic development. The author proposes a definition of the category of socio-economic efficiency of the credit union, as well as a set of indicators for quantitative and qualitative assessment of its level. The conducted analysis of these indicators’ dynamics allowed the author to formulate practical approaches to improving the activities of the national unions in the current conditions of economic development of Ukraine.

Key words: credit union, financial services markets, financial intermediation, non-bank financial institution, government regulators, institutional investors.