Cooperativa de Ahorro y Crédito Desarrollo de los Pueblos

Data provided through RFR

Gross Loan Portfolio USD, 2011: 65.0 million

Number of active borrowers 2011: 19,237

Average loan balance per borrower USD, 2011: 3,377.2

Deposits USD, 2011: 47.8 million

Assets USD, 2011: 77.3 million

Number of depositors 2011: 93,655

Mission:

Codesarrollo is a savings and credit cooperative with social vision that looks for the integral development of marginal sectors of Ecuador, rural and marginal-urban dwellers, afroecuadorians and indigenous people through the promotion and strengthening of local financial markets, with the goal ... Read more

Background and Main Challenges:

Codesarrollo leads a large alternative and sustainable financial network that promotes development of marginal sectors of Ecuador, possess a range of financial services specialized to each type of client and is present through its own offices or through strategic alliances with local financial ... Read more

Address:

Barcelona E15-02 y Ladrón de Guevara

Quito

Pichincha

Ecuador

Phone:

(593 2) 290-0109

Fax:

(593 2) 290-0109 anx 102

Email:

mbustos [at] codesarrollo [dot] fin [dot] ec

Website:

www.codesarrollo.fin.ec

Main Funding Sources:

Loans

Savings

Shareholder Capital

Products and Services:

Loans

Voluntary Savings

Insurance

Fund Transfer Services

Services Provided:

Education

Other

Looking for (Investment Types):

Guarantees

Loans in US$

Loans in EUR

% Operations Comprised by MF:

91 - 100

Date established:

Aug 17 1998

FYE:

31-Dec

Current Legal Status:

Credit Union / Cooperative

Regulated:

yes

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
Poverty reduction	2
Employment generation	3
Development of start-up enterprises	4
Growth of existing businesses	5
Youth opportunities	6
Gender equality and women's empowerment	7
Housing	8
Water and sanitation	9
+ 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
Housing loans	1
Other credit products offered:	1
Int ps offerothercreditloanstext c	Compra y legalización de tierras, Capital de operación y capital de trabajo para empresas campesinas.
+ 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	1
Compulsory agricultural insurance	1
+ Voluntary insurance products offered
+ Other financial products and services offered
Savings facilitation services
Remittances services	1
Pago BDH, paga de mas de 100 servicios( luz agua , telegono SRI, matricula, tarjetas de crédito etc.
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
Financial literacy education	1
+ 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.
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)
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
Quality of interaction with clients based on client feedback mechanisms
Quality of social data collected
Client retention/drop-out rate
Portfolio quality
Captaciones y venta de servicios complementarios.
+ Social responsibility to the environment
Crediecologico
+ Poverty measurement tools in use