Cooperativa de Ahorro y Crédito Fondvida

Gross Loan Portfolio USD, 2010: 4.7 million

Number of active borrowers 2010: 2,539

Average loan balance per borrower USD, 2010: 1,863.2

Deposits USD, 2010: 3.9 million

Assets USD, 2010: 5.2 million

Number of depositors 2010: 8,502

Mission:

Impulsamos los objetivos de nuestros socios y clientes, a través de la prestación de servicios financieros oportunos y de calidad en zonas urbanas y rurales, basados en honestidad, responsabiidad y transparencia, sustentados en tecnologia actualizada, contando con personal motivado, capacitado y ... Read more

Background and Main Challenges:

Al 2013 seremos una institución financiera solida, ágil e innovadora, reconocida por la población, con mayor cobertura y profundización en los sectores económicos vulnerables, solventando las necesidades de sus socios y clientes, creando oportunidades.

Address:

Flavio Alfaro OE6-150 y Francisco Dávila

Quito

Pichincha

Ecuador

Phone:

3-411884

Fax:

2-292974

Email:

fondvidasn [at] yahoo [dot] com

Main Funding Sources:

Grants

Loans

Savings

Shareholder Capital

Products and Services:

Loans

Voluntary Savings

Looking for (Investment Types):

Capacity-Building Grants

Donations

% Operations Comprised by MF:

91 - 100

Date established:

Feb 7 2000

FYE:

31-Dec

Current Legal Status:

Credit Union / Cooperative

Regulated:

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Women	1
Clients living in urban areas	2
Adolescents and youth (below 18)	3
Clients living in rural areas	4
+ Development goals (ranked by importance)
Increased access to financial services	1
Youth opportunities	2
Gender equality and women's empowerment	3
Poverty reduction	4
Housing	5
Children's schooling	6
Development of start-up enterprises	7
Employment generation	8
+ Poverty targets
Poor clients
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
SME loans
Loans for agriculture
Loans for education
Housing loans
+ Savings products offered
Voluntary savings accounts
Fixed term deposits
Special purpose savings accounts
+ Compulsory insurance products required
Compulsory credit life insurance
+ Voluntary insurance products offered
+ Other financial products and services offered
+ Non-financial services offered
+ Enterprise services offered
+ 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:	Depósitos y retiros desde 0.25 centavos de dólar. Crédito para iniciar pequeñas inicitaivas económicas.
+ 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.
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.
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)
+ Basis of staff incentives related to social performance
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
Producción limpia
+ Poverty measurement tools in use