Microempresas de Antioquia Cooperativa de Ahorro y Crédito

Address:

Calle 57A #48-31

Medellín

Antioquia

Colombia

Phone:

(574) 604-4666

Fax:

(574) 231-5769

Website:

www.meda.org.co

Main Funding Sources:

Loans

Products and Services:

Loans

Voluntary Savings

Insurance

Training and Consulting

Services Provided:

Full-scale Financial Services

Looking for (Investment Types):

Equity

Loans in Local Currency

Loans in USD

Capacity-Building Grants

Guarantees

Loans in EUR

% Operations Comprised by MF:

91 - 100

Date established:

Nov 28 2007

FYE:

31-Dec

Current Legal Status:

Credit Union / Cooperative

Regulated:

yes

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Clients living in rural areas	1
Clients living in urban areas	2
Women	3
Adolescents and youth (below 18)	4
+ Development goals (ranked by importance)
Growth of existing businesses	1
Development of start-up enterprises	2
Increased access to financial services	3
Housing	4
Children's schooling	5
Employment generation	6
+ Poverty targets
Poor clients
Low income clients
+ Governance
Has trained members of its board on social performance management
Has a formal board committee that monitors social performance
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises
Loans for agriculture
Housing loans
+ Savings products offered
Voluntary savings accounts
Fixed term deposits
Special purpose savings accounts
+ Compulsory insurance products required
Compulsory credit life insurance
Compulsory agricultural insurance
Microseguro
+ Voluntary insurance products offered
Voluntary life insurance
Voluntary agricultural insurance
Voluntary workplace insurance
+ Other financial products and services offered
Debit/credit card
Factoring
+ Non-financial services offered
+ Enterprise services offered
Enterprise skills development
Business development services
+ Education services offered
Cursos de capacitacion Microempresarios
+ Health services offered
+ Women's empowerment services offered
+ Products and services targeting the poor
Products and services specifically designed to target the poor:
+ Social responsibility to clients
+ Client protection principles in use
The loan approval process requires evaluation of borrower repayment capacity and loan affordability. Loan approval does not rely solely on guarantees (whether peer guarantees, co-signers or collateral) as a substitute for good capacity analysis.
Internal audits check household debt exposure, lending practices that violate procedures including unauthorized re-financing, multiple borrowers or co-signers per household, and other practices that could increase indebtedness.
Productivity targets and incentive systems value portfolio quality at least as highly as other factors, such as disbursement or customer growth. Growth is rewarded only if portfolio quality is high.
Prices, terms and conditions of all financial products are fully disclosed to the customer prior to sale, including interest charges, insurance premiums, minimum balances, all fees, penalties, linked products, third party fees, and whether these can change over time.
Staff is trained to communicate effectively with all customers, ensuring that they understand the product, the terms of the contract, their rights and obligations. Communications techniques address literacy limitations (e.g. reading contracts out loud, materials in local languages).
Acceptable and unacceptable debt collection practices are clearly spelled out in a code of ethics, book of staff rules or debt collection manual.
The organization's corporate culture values and rewards high standards of ethical behavior and customer service.
A mechanism to handle customer complaints is in place, has dedicated staff resources, and is actively used. (Suggestion boxes alone are generally not considered adequate.)
Customers know how their information will be used. Staff explains how data will be used and seeks permission for use.
+ Cost of services to clients
Flat interest method
+ Social responsibility to staff
+ Human resources
Transparency on salary (a clear salary scale based upon market salaries)
Benefits (medical insurance, pension contribution)
Protection at work (safety, anti-harassment)
Equality (anti-discrimination, equal pay for men and women with equivalent skill levels)
+ Basis of staff incentives related to social performance
Ability to attract new clients from target market
Outreach to remote/rural communities
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
+ Poverty measurement tools in use

MFI Report

Microempresas de Antioquia Cooperativa de Ahorro y Crédito

Select i

Social Performance Profile

At a glance

MIX Market Data Updates

Share this Profile

Global Partners