Daphne Rixon (2013) during her research have interviewed credit union leaders
across North America and Canada to understand which KPIs they use and why. She
have found that most talk about a balanced scorecard approach, which pits financial,
customer, learning, and process behaviors against each other. However, Rixon finds
that financial measures dominate. Efficiency ratios, profitability, return on investment,
and income growth are the common denominators. Credit unions trade is financial
services, so shouldn’t the principal measures be financia, but what about community
engagement and social responsibility? She considers these aspects as equally important
and also key [9].
Tarcisio PedroDa Silva, MauricioLeite Jaqueline Carla Guse, Vanderlei Gollo
(2017) pay attention that the credit union's main functions are the provision of
individual financial loans based on collective savings, reaching up to provide full
banking services, but also with expansion of its social function.Cooperatives are an
alternative to supply a credit demand in the market, because a third of the municipalities
have no bank branches. Although the participation of cooperatives in credit operations
is still small compared to the Brazilian national banking system, its continued growth
demonstrates the importance of this sector [10].
The research of Lean Yu, Xinxie Li, Ling Tang, Zongyi Zhang and Gang Kou
(2015) focuses on the economic explanation of social credit in conjunction with
creation and evolution mechanisms. Their study considers the credit of various
economic agents within the social credit system [11].
Josephine Philip Churk (2015) examines the contribution of savings and credit
co-operative societies (SACCOS) on promoting rural livelihood in Makungu ward,
Mufindi district of Tanzania. This research is useful for understanding its contributions
in promoting rural livelihood [12].
It should be noted that under the current conditions, it becomes of special interest
to study the influence of the development of credit unions on the social and labor
mobility of domestic society. At the same time, it is important to review the approaches
to state regulation of this process, because in the face of the lack of effective legislation,
regulation and prudential supervision, the threats to the emergence of under the guise
of credit unions and pawnshops "financial pyramids" [3, p. 87].
All of the foregoing determines the relevance of the research topic and defines the
main objective - monitoring the status and prospects of the development of credit
unions of Ukraine in the context of strengthening their positive impact on social and
labor mobility.
Research Findings. Historical prerequisites for the formation of credit
unions. The idea of co-operation as a form of mutual assistance and economic self-
defense of the population in the market was formed in England at the beginning of the
XIX century. In 1844, 28 worker-weavers of the English city of Rochdale founded a
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