Las Cooperativas de Ahorro y Crédito en el Contexto del Sistema Financiero Ecuatoriano

Since the Ecuadorian banking and financial crisis of 1999, which caused the bankruptcy of a large number of the country's banks, the cooperative system; which, until then, appeared as the only option for Financing for small businesses, lacking the capacity to commercial bank credit. The lack of confidence of the population in the traditional banks allowed the growth of savings cooperatives and credit in Ecuador. This growth had a favorable context, with theinstitutionalization of technical control agencies for the sector cooperative under the so-called Social and Solidarity Economy. The creation of a Superintendence, to monitor this sector, hasdetermined that, currently, credit unions often compete on equal terms with private banks. East study aims to present a diagnosis of the situation of this important financial sector of the Ecuadorian economy, through the analysis of the main financial indicators, accounting for its sustained growth and contribution to the Ecuadorian financial system.