Credit Unions as a Tool for Generating Savings for Domestic Households

The formation of household savings is a key prerequisite for sustainable economic development and investment recovery in Ukraine. This article explores the role of credit unions as specific non-banking financial institutions capable of accumulating small-scale personal savings. The relevance of the study is driven by the prolonged decline in the institutional and financial scale of this sector in Ukraine, which necessitates a comprehensive statistical assessment. The purpose of the article is to determine the dynamics and operational features of credit unions as a tool for generating household savings, as well as to compare the national model of credit cooperation with European practices. The research methodology is based on the application of time-series analysis, analytical periodization, and graphical interpretation of statistical data. A comparative approach was employed for international benchmarking. The information base consists of official statistical data from the State Commission for Regulation of Financial Services Markets of Ukraine, the National Commission for State Regulation of Financial Services Markets, the National Bank of Ukraine, and the World Council of Credit Unions (WOCCU). The study finds that the reduction in the number of credit unions in Ukraine is accompanied by a simultaneous decline in membership and the volume of accumulated funds. The study substantiates the expediency of using share capital as an integrated indicator of actual household participation in long-term accumulation mechanisms. Comparative analysis reveals that, unlike in Ukraine, the sector in European countries maintained stability even during financial and pandemic crises, indicating higher institutional resilience and public trust. It is concluded that the limited role of credit unions in Ukraine is driven by a combination of crisis factors, stringent regulatory restrictions, and insufficient financial literacy. The practical significance of the results lies in their potential application for developing financial sector growth strategies, reforming the credit cooperation system, and enhancing the financial inclusion of households.