ANÁLISIS DEL COOPERATIVISMO DE AHORRO Y CRÉDITO BAJO EL MARCO DE LA LEY ECUATORIANA.

Abstract

The attention of the analysis around the development of Credit Unions in Ecuador due to the publication of the New Law of Popular and Solidarity Economy in May 2011, becoming obsolete the previous Credit Union Law that was in force since 1994. This measure was taken after considering outdated the previous law, which allowed two completely separate government entities to regulate the credit unions, creating a complete state of misinformation. The new law considers this kind of financial institution as a popular subdivision of the economy and provides only one agency to audit the CU. The main objective of this article was to analyze the evolution of the Credit Union movement in Ecuador as well as trying to determine the benefits and opportunities posed by the new law. To study the issue, it’s important to enlist market index and the legal framework to determine the Credit Unions development. After the study it can be concluded how essential to Ecuador is the new regulation system and the importance to have a wealth micro financial system.