Cooperativa de Ahorro y Crédito Cooprogreso Ltda.

Data provided through RFR

Gross Loan Portfolio USD, 2011: 135.4 million

Number of active borrowers 2011: 29,330

Average loan balance per borrower USD, 2011: 4,616.9

Deposits USD, 2011: 126.1 million

Assets USD, 2011: 187.1 million

Number of depositors 2011: 71,682

Mission:

Servir a nuestros socios clientes, de manera competitiva, equitativa y con responsabilidad social, facilitando la entrega de productos y servicios financieros, retribuyendo valor a los aportes de los socios, que aseguren el mejoramiento de la calidad de vida, el progreso de la comunidad y del ... Read more

Background and Main Challenges:

Ser líderes en la innovación en el sistema cooperativo, y ser competitivos en el sistema financiero nacional para satisfacer las necesidades de nuestros socios clientes contribuyendo a su bienestar y de la comunidad.

Address:

Av. Manuel Córdova Galarza 9380 y Bogotá

Quito

Pichincha

Ecuador

Phone:

2-352510

Fax:

2-350747

Email:

gerencia [at] cooprogreso [dot] fin [dot] ec

Website:

www.cooprogreso.fin.ec

Main Funding Sources:

Loans

Savings

Shareholder Capital

Products and Services:

Loans

Voluntary Savings

Insurance

Fund Transfer Services

Services Provided:

Health

Other

% Operations Comprised by MF:

91 - 100

Date established:

Aug 18 1967

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
Women	3
Adolescents and youth (below 18)	4
+ Development goals (ranked by importance)
Increased access to financial services	1
Poverty reduction	2
Employment generation	3
Growth of existing businesses	4
Health improvement	5
Gender equality and women's empowerment	6
Housing	7
+ Poverty targets
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 education	1
Housing loans	1
+ Savings products offered
Voluntary savings accounts
Compulsory savings accounts (cash collateral)
Fixed term deposits
Special purpose savings accounts
Cuentas de ahorro corporativas
+ Compulsory insurance products required
Compulsory credit life insurance	1
+ Voluntary insurance products offered
Voluntary life insurance	1
Voluntary health insurance	1
+ Other financial products and services offered
Debit/credit card	1
Mobile banking services	1
Savings facilitation services
Remittances services	1
Servicios por internet
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
Financial literacy education	1
Basic health/nutrition education	1
+ Health services offered
Basic medical services	1
+ Women's empowerment services offered
Leadership training for women	1
+ 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.
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)
+ Basis of staff incentives related to social performance
Ability to attract new clients from target market
Outreach to women
Portfolio quality
+ Social responsibility to the environment
+ Poverty measurement tools in use