Sociedad Cooperativa de Ahorro y Crédito AMC de R.L.

Data provided through AMC de R.L.

Gross Loan Portfolio USD, 2011: 17.3 million

Number of active borrowers 2011: 13,966

Average loan balance per borrower USD, 2011: 1,237.7

Deposits USD, 2011: 0.0

Assets USD, 2011: 21.0 million

Number of depositors 2011: 0

Mission:

Ser la insitución financiera que brinda servicios especializados al sector de la micro y pequeña empresa, trabajadores por cuenta propia, y empleados de bajos ingresos a nivel nacional y regional, bajo un esquema de rentabilidad económica, y social que garantíza su permanencia, solidez, ... Read more

Background and Main Challenges:

AMC fue constituida el 19 de diciembre del año 2000, a iniciativa de la Fundación Agencia de Desarrollo Económico Local de Morazán (ADEL-MORAZAN) su principal accionista; cuenta con una amplia cobertura nacional con una red de 17 agencias y puntos de negocios ubicados estratégicamente para ... Read more

Address:

8° Calle Oriente y 4° Av. Norte # 203

San Miguel

El Salvador

Phone:

(503) 2682-1600

Fax:

(503) 2660-7994

Email:

wsalmeron [at] amc [dot] com [dot] sv

Website:

www.amc.com.sv

Main Funding Sources:

Loans

Savings

Shareholder Capital

Products and Services:

Loans

Voluntary Savings

Insurance

Fund Transfer Services

Services Provided:

Full-scale Financial Services

Looking for (Investment Types):

Equity

Capacity-Building Grants

Loans in US$

Date established:

Dec 19 2000

FYE:

31-Dec

Current Legal Status:

NBFI

Regulated:

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Clients living in rural areas	1
Women	2
Clients living in urban areas	3
+ Development goals (ranked by importance)
Increased access to financial services	1
Employment generation	2
Growth of existing businesses	3
Poverty reduction	4
Housing	5
+ Poverty targets
Very poor clients	1
Poor clients	1
Low income clients	1
+ Governance
Has trained members of its board on social performance management
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises	1
Microcredit for household needs/consumption	1
SME loans
Loans for agriculture	1
Loans for education	1
Housing loans	1
+ Savings products offered
Voluntary savings accounts
Fixed term deposits
+ Compulsory insurance products required
Compulsory credit life insurance	1
+ Voluntary insurance products offered
Other voluntary insurance offered:	1
Int ps othertextvol c	Seguro de Re patriación de salvadoreños en el exterior en alianza con una aseguradora
+ Other financial products and services offered
Remittances services	1
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
+ Health services offered
+ Women's empowerment services offered
+ Products and services targeting 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
Declining balance 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)
Seguro de Vida y prestaciones adicionales a la ley
+ 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
This institution raises clients' awareness about environmental impacts
This institution includes specific clauses in its loan contracts to mitigate specific environmental risks
This institution identifies enterprises with environmental risk
+ Poverty measurement tools in use
Grameen Progress out of Poverty Index (PPI)

Partnerships

Current
Name	Relationship
ASOMI	Network Affiliation
Consorzio Etimos	Funding
Hivos-Triodos Fund	Funding
MicroRate	Rating
Oikocredit	Funding
Red Katalysis	Network Affiliation
REDCAMIF	Network Affiliation