Abstract
Credit cooperatives occupy a special place in the financial system of the country. They are created and operate on democratic principles of mutual assistance and have recently increased the level of accessibility of various banking programs, including refinancing schemes, mainly due to high unit costs for small borrowers and operations with deposits. By their nature, credit cooperatives seek to improve local and general welfare, as it is the property of shareholders. They solve the problem of financing the real sector of the economy and play an important role in regions remote from large financial centers–increasing effective demand for training, job creation, and poverty alleviation. In order to protect shareholders, consumer credit cooperatives (hereinafter–CCC) enter into a mutual insurance company (hereinafter–MIC). Currently, there are 5 mutual insurance societies, which comprise 152 credit consumer cooperatives out of 1503. An important point is a need for the CCC to meet the additional requirements of the MIC to enter it.
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Repushevskaya, O.A., Nasretdinova, Z.T., Kuzyashev, A.N., Beschastnova, N.V., Shamshovich, D.A. (2021). The Role of Credit Cooperatives in Financing the Real Sector of the Economy. In: Bogoviz, A.V., Suglobov, A.E., Maloletko, A.N., Kaurova, O.V., Lobova, S.V. (eds) Frontier Information Technology and Systems Research in Cooperative Economics. Studies in Systems, Decision and Control, vol 316. Springer, Cham. https://doi.org/10.1007/978-3-030-57831-2_1
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