Caisse du Mouvement Mutualiste Béninois

Gross Loan Portfolio USD, 2010: 1.3 million

Number of active borrowers 2010: —

Average loan balance per borrower USD, 2010: 0.0

Deposits USD, 2010: 740,678.3

Assets USD, 2010: 1.7 million

Number of depositors 2010: 3,638

Mission:

To offer members rapid and easy access to financial services in order to help improve their living conditions

Offrir aux membres des services financiers d'accès rapide et facile afin de contribuer à l'amélioration de leurs conditions de vie

Background and Main Challenges:

The Caisse du Mouvement Mutualiste Béninois (CMMB) is a microfinance institution that was established on May 17th, 1997, by members of the tourism and hotel industries (owners of cafes, bar-restaurants, and hotels). The MFI launched its activities on September 14th, 1998, with the opening of ... Read more

Address:

02 BP: 948

COTONOU

Littoral

Benin

Phone:

(229) 21 30 41 49

Fax:

(229) 21 30 27 35

Email:

cmmb02 [at] yahoo [dot] fr

Main Funding Sources:

Loans

Savings

Products and Services:

Loans

Voluntary Savings

Looking for (Investment Types):

Loans in Local Currency

Date established:

Jan 1 1997

FYE:

31-Dec

Current Legal Status:

Credit Union / Cooperative

Regulated:

yes

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Clients living in urban areas	1
Clients living in rural areas	2
+ Development goals (ranked by importance)
Increased access to financial services	1
Poverty reduction	1
Children's schooling	2
+ Poverty targets
Low income clients
+ Governance
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises
Microcredit for household needs/consumption
Loans for education
Housing loans
+ Savings products offered
Checking accounts
Voluntary savings accounts
Compulsory savings accounts (cash collateral)
Fixed term deposits
+ Compulsory insurance products required
+ Voluntary insurance products offered
+ Other financial products and services offered
Remittances services
+ Non-financial services offered
+ Enterprise services offered
Business development services
+ Education services offered
+ Health services offered
+ Women's empowerment services offered
+ Products and services targeting the poor
Products and services specifically designed to target the poor:	Crédit exploitation, crédit Investissement, ligne de crédit, crédit salarié, crédit equibal, compte courant, compte d'épargne obligatoire, dépôt à terme, compte d'épargne quotidienne
+ 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
Outreach to women
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
This institution identifies enterprises with environmental risk
+ Poverty measurement tools in use