Cooperativa de Ahorro y Credito Luz del Valle

Gross Loan Portfolio USD, 2010: 14.7 million

Number of active borrowers 2010: 6,511

Average loan balance per borrower USD, 2010: 2,253.1

Deposits USD, 2010: 12.5 million

Assets USD, 2010: 15.8 million

Number of depositors 2010: 16,546

Mission:

Trabajar comprometidos con el desarrollo integral de la comunidad, como una entidad de intermediación financiera confiable, con responsabilidad social, generando rentabilidad y solvencia que permita dar soluciones y servicios agiles y oportunos en el sector productivo de la economía popular y ... Read more

Background and Main Challenges:

Luz del Valle al año 2016, será la empresa cooperativa más confiable de la Provincia de Pichincha, reconocida por la calidad de asesoramiento a sus socios, la honestidad de sus actos y la preocupación por el desarrollo integral de la comunidad.

Address:

Av. Abdon Calderon 524 e Ines Gangotena

Sangolqui, Rumiñahui

Pichincha

Ecuador

Phone:

2337-555

Fax:

2339-180

Email:

gerencialuzvalle [at] interactive [dot] net [dot] ec

Website:

www.luzdelvalle.fin.ec

Main Funding Sources:

Loans

Savings

Shareholder Capital

Products and Services:

Loans

Voluntary Savings

Fund Transfer Services

Services Provided:

Other

Looking for (Investment Types):

Loans in Local Currency

Loans in USD

Capacity-Building Grants

Donations

Loans in EUR

% Operations Comprised by MF:

91 - 100

Date established:

Apr 9 2002

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
Clients living in urban areas	2
+ Development goals (ranked by importance)
Increased access to financial services	1
Employment generation	2
Growth of existing businesses	3
Development of start-up enterprises	4
+ Poverty targets
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
SME 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 varios servicios publicos y privados, (soat, rise, bdh, matriculacion vehicular)
+ 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:
+ 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).
The organization's corporate culture values and rewards high standards of ethical behavior and customer service.
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)
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
Portfolio quality
+ Social responsibility to the environment
+ Poverty measurement tools in use

Partnerships

Current
Name	Relationship
RFR	Network Affiliation

MFI Report