Survey of Financial Institutions, Mirroring the Condition of Cooperatives in Sungai Penuh City

Indonesia is currently entering a period of recovery from the Covid-19 pandemic. The economy is getting better at the end of 2021. The Central Statistics Agency (BPS) released that the Indonesian economy in 2021 grew by 3.69 percent, higher than the 2020 achievement which experienced a growth contraction of 2.07 percent.

Looking at the conditions in 2020, Indonesia was facing an economic contraction due to restrictions on population mobility.

This also has an impact on hampering business activities in all sectors. So that it is inevitable that people's purchasing power will decrease, unemployment will increase, and poverty will increase. Financial institutions are no exception to the impact of the Covid-19 pandemic. Types of financial institutions in Indonesia include banking, non-banking, and companies supporting financial institutions. Financial institutions have an important meaning in increasing economic growth. So that gradually the government has regulated the development of its business through Government Regulations and Decrees of the Minister of Finance of the Republic of Indonesia. In line with this, the Central Statistics Agency also provides data from these financial institutions through the Financial Institution Survey (SLK). The Financial Institution Survey covers two types of activities, namely Foreign Exchange Traders and Savings and Loans Cooperatives (KSP). Cooperatives are one type of financial institution that has been affected by the COVID-19 pandemic. Through this SLK activity, the impact of the COVID-19 pandemic on cooperatives in Indonesia can be known. BPS Kota Sungai Penuh also plays an active role in this Financial Institution Survey. The Financial Institutions survey was carried out by conducting direct interviews with a number of cooperative samples in Sungai Penuh City. In 2021, the sample of SLK was 11 cooperatives. The purpose of this activity is to obtain the characteristics of Savings and Loans Cooperatives which include the level of cooperative business, the cooperative loan interest rate, and the number of members, administrators, supervisors, and managers as well as financial characteristics through Financial Statements in the form of Balance Sheet and Loss/Profit Reports. This Financial Institution Survey activity is an annual activity that is carried out from March to October every year. The data obtained are annual data from the previous year. So, for example, during the 2022 Financial Institution Survey, the data that will be enumerated is 2020 and 2021. From the Financial Institution Survey activities during 2020 to 2021, the cooperatives in Sungai Penuh City have experienced a decrease in the number of members. The average number of cooperative members in Sungai Penuh City in 2019 before the pandemic, was 268 people, this number decreased when compared to 2020 as many as 105 people. This number decreased to 60.8 percent. Meanwhile, the average number of borrowers in 2020 is 53 members, with 1 person having bad debts. In 2019, the average number of borrowers was 178 members, with 52 bad loans. In addition, the average credit score provided by cooperatives in Sungai Penuh City has also decreased. In 2019, the credit value given was Rp. 445,993,000,000. Meanwhile, in 2020, the average credit score given by cooperatives in Sungai Penuh City is IDR 7,729,000,000. When viewed from the amount of credit granted, the value has decreased from 2019 to 2020. However, the number of borrowers and bad loans has also decreased, this is because the number of active cooperative members has also decreased, the business activities carried out by cooperatives have also decreased. Thus, the characteristics of cooperatives in Sungai Penuh City during the pandemic can be said to have decreased business activities due to the impact of covid-19. As a follow-up, the government through the Ministry of Cooperatives and Small and Medium Enterprises (KUKM) conducted a relaxation program scheme.

One of them is relaxation from banks and the Micro, Small and Medium Enterprises Cooperative Revolving Fund Management Agency (LPDB KUMKM) to cooperative loans. LPDB-KUMKM restructure loans or financing. This restructuring takes the form of delaying principal installment payments, delaying service installment payments, delaying or reducing services, extending the term, and/or adding loan or financing facilities.

From the description of the data, it can be concluded that the Financial Institutions Survey provides an overview for the government to provide the best policies to support economic growth, one of which is through cooperative financial institutions.

Thus, the Financial Institutions Survey becomes a routine work program of BPS which is expected to be well responded by respondents, especially related financial institutions.