MFI Report

ASC Union was created on January 25th, 2002 as a voluntary federation of Savings and Credit Associations (SCAs). Initiated in 1992 under a poverty alleviation program, ASC Union has evolved over time to a fully administered cooperative microfinance institution composed by Savings and Credit Associations and their Union. Since the very beginning, ASC Union has gone through several transformations in terms of institutional profile. From 1992 till 1999, it operated as a Rural Development Fund in the framework of Rural Credit Department, while in 1999, it has been transformed into the Rural Finance Fund, and continued its operations until ASC Union establishment.

Focusing on a large target group living in rural areas, ASC Union has farmers, artisans, traders and other service providers as its clients. Inspired by financial cooperative models like Raiffeisen and other models, it is based on savings and credit associations (SCAs) that have a strong social rooting in local communities.

NOTE: As of 2008, ASC Union is reporting financial and outreach data on both the Union and the savings and credit unions.
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