MICRO-FINANCIAL AREA AS AN ALTERNATIVE TO THE BANK SECTOR AT THE MARKET OF THE REAL-ESTATE LOAN (BASED ON THE MATERIALS OF THE CREDIR AND CONSUMER COOPERATIVE CREDIT UNION VKB-CREDIT, VOLGOGRAD REGION)

The structure of the population savings developed at the stage of reformation of the Russian economics has become the reflection of a new financial thinking of the society, representation of its active saving behavior. The population savings at the current stage are major source of credit resources in Russia. Meanwhile, the additional solvent demand of population is being actively formed now not only by the bank sector, but by micro-financial area, one of the representatives of which are credit consumer cooperatives of citizens. Currently they are active participants of the market of the real-estate crediting, which development and functioning is aimed at solution of the most important social issue – providing population with the housing. The practice of the real-estate crediting by means of the credit cooperatives is available in Volgograd Region. The credit consumer cooperative Credit Union VKB-credit founded in 2003 has been provided the real-estate loans in all districts of Volgograd Region since 2005 using the network consisting of forty representative offices. Currently about 90 % out of the total amount of the outside funds constitutes the share of the real-estate loans.

consumer cooperation, credit cooperative, micro-financial area, real-estate loan, bank sector, consumer loan, finances of a household, population savings, financial flows of consumer cooperative