Svitlana Turchina – Sumy National Agrarian University, 160, Gerasim Kondratieva Street, Sumy, Ukraine, 40000

Kateryna Turchina – Pennsylvania State University, Penn State World Campus, 305 Armsby Building, University Park, PA, USA,

Liudmyla Dashutina – Sumy National Agrarian University, 160, Gerasim Kondratieva Street, Sumy, Ukraine, 40000



6th International Conference – ERAZ 2020 – KNOWLEDGE BASED SUSTAINABLE DEVELOPMENT,  Online/virtual, May 21, 2020, CONFERENCE PROCEEDINGS

Published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia

Conference partners: Faculty of Economics and Business, Mediterranean University, Montenegro; University of National and World Economy – Sofia, Bulgaria; Faculty of Commercial and Business Studies – Celje, Slovenia; Faculty of Applied Management, Economics and Finance – Belgrade, Serbia

ISSN 2683-5568, ISBN 978-86-80194-33-2, DOI:



The article addressed the community as the smallest unit in geography scope, which unites individuals,
companies, and government. The role of each one is significant and irreplaceable. For this paper,
the community is as a synergy between group of individuals, institutions, and a government that live and (or)
operate within geographical, political, social, and economic boundaries. This article focuses on banks, as a
link between individuals and government in the development process. In particular, the supply and retention
of financial and human capital. The authors try to prove financial companies and banks play a key role in the
community and economic development because they deliver financial capital to individuals and businesses.
This research allows concluding that the Finance & Insurance industry contributes toward the development
of both national and local levels with the high share and positive mix and competitive components.

Key words

Community, Financial Institutes, CRA examination, The Shift-Share analysis.


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