Ezrokh Yu.S.Novosibirsk State University of Economics and Management, Novosibirsk, Russian Federation ezroh@rambler.ru
Subject The article addresses the general competitive ability of credit cooperatives, which is determined by competitiveness of services they provide in relation to financial products of other credit market participants. Objectives The purpose is to assess the current state and prospects for enhancing the competitiveness of credit cooperatives providing deposit and credit services. Methods The study draws on general and special methods of scientific knowledge, like analysis, measurement, observation, synthesis, and special economic and statistical methods. Results The paper reveals that the instability of credit cooperative market is a negative factor of competitiveness; credit services competitiveness is low due to high borrowing costs; savings services competitiveness is average, it is caused by the existing deposit insurance system. Additional negative impact on competitiveness is attributable to low transparency in service delivery. These findings determine negative competitive prospects for credit cooperation in Russia and the need to take appropriate measures. Conclusions The paper substantiates the need to reform this financial market segment and presents four blocks of recommendations. They include enhancing the transparency of credit cooperatives' operations, toughening the supervision over these entities; reorganizing large credit cooperatives into deposit and credit non-bank institutions; encouraging more scientific discussion on the subject.
Keywords: credit cooperative, cooperative shareholder, competition, bank
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