Cooperativa de Ahorro y Credito Kullki Wasi

Gross Loan Portfolio USD, 2010: 14.7 million

Number of active borrowers 2010: 9,581

Average loan balance per borrower USD, 2010: 1,535.0

Deposits USD, 2010: 14.0 million

Assets USD, 2010: 16.8 million

Number of depositors 2010: 30,705

Mission:

Brindar servicios financieros a la población rural y urbano marginal con enfoque preferente en la zona central del país bajo condiciones de calidad, innovación, oportunidad y seguridad; con el fin de contribuir en la reducción de la pobreza, el desempleo, la migración y mejorar las condiciones ... Read more

Background and Main Challenges:

Ser una institución reconocida nacional e internacionalmente como referente en atención a los sectores rurales, con un enfoque integral en la prestación de servicios financieros y de apoyo en los procesos productivos rurales, que le permiten alcanzar niveles de solidez y rentabilidad que ... Read more

Address:

Av. 12 de Noviembre y Montalvo

Ambato

Tungurahua

Ecuador

Phone:

03 2828242

Fax:

03 2828242

Email:

coac_kw [at] yahoo [dot] es

Website:

www.coackullkiwasi.com

Main Funding Sources:

Grants

Loans

Savings

Shareholder Capital

Products and Services:

Loans

Voluntary Savings

Funds Transfer Services

Services Provided:

Other

Looking for (Investment Types):

Equity

Loans in Local Currency

Loans in USD

Donations

Guarantees

% Operations Comprised by MF:

91 - 100

Date established:

Apr 7 2003

FYE:

31-Dec

Current Legal Status:

Credit Union / Cooperative

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
Adolescents and youth (below 18)	4
+ Development goals (ranked by importance)
Increased access to financial services	1
Growth of existing businesses	2
Development of start-up enterprises	3
Children's schooling	4
Youth opportunities	5
Employment generation	6
Poverty reduction	7
Housing	8
+ Poverty targets
Poor clients
Low income clients
+ 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
Microcredit for household needs/consumption
Housing loans
+ Savings products offered
Voluntary savings accounts
Compulsory savings accounts (cash collateral)
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
Savings facilitation services
Remittances services
PAGO DE SERVICIOS BÁSICO, BDH
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
Child and youth education
+ 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.
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).
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
+ Basis of staff incentives related to social performance
Quality of interaction with clients based on client feedback mechanisms
+ Social responsibility to the environment
+ Poverty measurement tools in use

Partnerships

Current
Name	Relationship
Oikocredit	Funding
RFR	Network Affiliation

MFI Report