The credit unions are part of a system of financial inclusion and economic dynamization still unexploited in Ecuador. However, private and state actions are necessary to eliminate certain barriers that impede its growth.
One of its main problems is not only the slight structures on which some credit unions are built but also the high concentration of their services in particular areas. For Augusto De La Torre, a former economist for Latin America at the World Bank and now Adjunct Professor at Columbia University, this makes it difficult for many cooperatives to diversify their financial risks.
In the country, there are 750 credit unions that handle about $ 8 billion in deposits, the fourth part of the financial system. The growth potential of this sector in the supply of credit is enormous if we take into account the demand in the market that is not yet served. (I)