THE CAUSES OF FINANCIAL EXCLUSION ACCORDING TO THE CLIENTS OF COOPERATIVE BANKS

This paper attempts to determine the causes that contribute to financial exclusion. A questionnaire-based survey was conducted from January to April 2023, on the population N=1502 clients of cooperative banks, maintaining a very high confidence level α = 0.98 and estimated maximum error of 3%. A quantitative study of the clients of cooperative banks was performed according to the Mixed Mode Design procedure, which obtains the same information (based on the same survey questionnaire) from different individuals with the use of various research techniques: CAWI, CATI, CAPI. The study looks at financial exclusion, which refers to the situation when individuals or their groups are deprived of the access to basic financial services, such as bank accounts, credits or insurance. The results demonstrate that the profiles of excluded individuals have a significant impact on the existing financial exclusion: family status, social and professional status, gender, age, nationality, education, employment type, level of income, duration of residing under the same address or ownership type of a flat/house. The study shows as well that a low income level is a major factor contributing to banking exclusion within the client-bank relationship. In turn, according to the clients, negative credit history has the greatest influence on credit exclusion, while in their opinion exclusion from the savings system results from the fact that it is not offered to the individuals with low income. Cooperative banks, due to their mission and principles of operation, might play a crucial role in limiting financial exclusion. The offer of cooperative banks addressed to clients residing in rural areas and small towns might, according to those surveyed, contribute to limiting financial exclusion.