MODERN SYSTEM OF CREDIT COOPERATION: PROBLEMS AND PERSPECTIVES OF DEVELOPMENT IN UKRAINE

The article researches the place and role of the credit cooperation in the economy of Ukraine. Modern state of the development of cooperation in various spheres of human activity is analyzed; the restricting factors in the sphere of credit cooperation of Ukraine are determined. Basic economic activities indexes of organizations belonging to the system of credit cooperation in the last ten years are studied. Statistical data are analyzed on the systemic violation of the current legislation in the financial services market by credit unions. It is determined that domestic credit unions operate with the breach of basic cooperative principles. Mainstream priorities for development of such unions are suggested. Attention is focused on the constraints concerning collaboration of the cooperative unions and commercial banks. The structure of the loan portfolio of credit unions is researched. It is ascertained that the majority of loanable funds are consumer's bank loans. The structure of credits issued by credit unions to agricultural producers is studied. Importance is given to legal provision of the credit cooperation development and to the analysis of new legislative acts in particular. It is determined that an important direction in the credit cooperation development is a further increase of credit unions associations with the purpose of introducing common rules for operating on the cooperative bank loans market, as well as coordinating and supporting the set standards etc. An accent is put on the necessity and actuality of the state support of credit cooperation, which should be given on condition that unnecessary administrative interference into an organization's activity be avoided. It is established that local cooperative banks should present the basic level of the cooperative bank system; however this should be preceded by respective competences secured on the legislative and organizational levels. It is suggested that for consolidation of their resources it is expedient for local cooperative banks to unite their efforts with the purpose of founding regional banks to carry out banking. It is also defined that with the objective of expanding their financial services and a full-scale participation of cooperative banks, regional banks should make efforts to form a third level of the bank system by founding a central cooperative bank.