Credit unions in Chile and their role in financial inclusion

  • Antonio Lemus Deloitte
  • Cristian Rojas CMF Research Department, Financial Market Commission
Keywords: credit unions, financial inclusion, credit


This paper explores the role played by credit unions in financial inclusion in Chile. Using administrative individual-level data, we analyze the borrowing behavior of credit union debtors. The results find that credit unions contribute to financial inclusion: it is more likely that people with low income, elderly, women, and inhabitants of small communities, far from the large urban centers, borrow from credit unions. Also, we find that having a credit union commercial office in the county where individuals live increases their access to credit.
How to Cite
Lemus, A., & Rojas, C. (2022). Credit unions in Chile and their role in financial inclusion. Economic Analysis Review, 37(1), 75-103. Retrieved from