Lutsyshin O. Credit Unions in the Financial Services Market of Ukraine

Object of the research: activity of credit unions as financial institutions on the market of financial services. The goal of the research work is to extend the theoretical approaches and to find out the problem aspects of an organizational and economic mechanism of credit unions activity; to work out the recommendations to form the credit cooperation system infrastructure and to improve the state regulation mechanism of credit union activity on the market financial services in Ukraine. Methods: theoretical generalization and comparison, convergence from abstract to concrete, historical and systematic method of scientific perception, analysis, synthesis, comparison, grouping and graphical description of data, logical generalization of results and economic modeling. Results: institutional peculiarities of a credit union as a financial institution in the context of economic essence of credit cooperation have been shown; the role and the rank of credit unions on the financial services market have been justified; theoretical principles of organizational and economic mechanism have been formed and the modern tendencies of credit union activity on the financial services market in Ukraine have been generalized. Novelty: the essence has been justified and the peculiarities of organizational and economic mechanism of credit unions activity on the financial services market have been shown; the approach for diagnostic research of credit union financial condition has been developed; the order of fulfillment of prudential supervision and the system of early prevention of credit unions financial condition decline have been improved; it was proposed to refer the financial services market to so called "integrated complicated markets"; it was proved that a credit union is a specific form of financial conglomeration that is different from other forms of management and preserves elements of cooperative union as well as combines the traits and features of a commercial financial institution; the three-level institutional and organizational architecture of a credit cooperation system has been offered. Practical results have been implemented into practical activity of Cooperative Association Raiffeisen General design (DGRV) and German Society of Technical cooperation; Ukrainian Association of credit unions; association of credit unions "Program of Deposits Security"; Ukrainian united credit union; credit union "Kalyna". They were considered to be implemented by the Academy of financial management of Ukraine Budget Ministry and the State Committee in regulation of financial services in Ukraine. Sphere: finance