KAMURJ UCO LLC

Gross Loan Portfolio USD, 2010: 9.4 million

Number of active borrowers 2010: 6,143

Average loan balance per borrower USD, 2010: 1,531.9

Deposits USD, 2010: 0.0

Assets USD, 2010: 12.5 million

Number of depositors 2010: 0

Mission:

To provide accessible long-term financial and non-financial services to low-income families to improve their well-being.

Background and Main Challenges:

KAMURJ is the result of merging Save the Children/US and CRS microfinance programs in Armenia. The main challenges are: market competition, diversification of products/services, expanding to rural markets and rising additional funds to support its growth towards financial sustainability. Note: ... Read more

Address:

11 Kalents Str.

Yerevan

375033

Armenia

Phone:

(+374-10) 278-624

Fax:

374 10 274 310

Email:

vgagik [at] arminco [dot] com

Website:

www.mdf-kamurj.am

Main Funding Sources:

Grants

Loans

Products and Services:

Loans

Training and Consulting

Products:

KAMURJ offers loans, savings and limited business development services for family businesses, with priority of promoting women's entrepreneurship.

Services Provided:

Business Development Services

Looking for (Investment Types):

Loans in Local Currency

Donations

Capacity Building Grants

Equity investments

Loans in US$

% Operations Comprised by MF:

91 - 100

Date established:

Jan 1 1998

FYE:

31-Dec

Current Legal Status:

NGO

Regulated:

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Women	1
Clients living in rural areas	2
Clients living in urban areas	3
+ Development goals (ranked by importance)
Poverty reduction	1
Increased access to financial services	2
Growth of existing businesses	3
Housing	4
Employment generation	5
+ 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
Loans for agriculture
Loans for education
Housing loans
+ Savings products offered
+ Compulsory insurance products required
+ Voluntary insurance products offered
+ Other financial products and services offered
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
Financial literacy education
+ Health services offered
+ Women's empowerment services offered
+ Products and services targeting the poor
Products and services specifically designed to target the poor:	House-improvement micro-loans, consumer loans, micro-entrepreneurship loans.
+ 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
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
Ability to attract new clients from target market
Outreach to remote/rural communities
Client retention/drop-out rate
Portfolio quality
Income from loans
+ Social responsibility to the environment
This institution raises clients' awareness about environmental impacts
This institution includes specific clauses in its loan contracts to mitigate specific environmental risks
This institution identifies enterprises with environmental risk
+ Poverty measurement tools in use

Partnerships

Current
Name	Relationship
CRS	Network Affiliation
Dignity Fund, L.P.	Funding
Incofin - Rural Impulse Fund	Funding
MFC	Network Affiliation
MFN	Network Affiliation
MicroCredit Enterprises	Funding
Planet Rating	Rating
Save the Children	Network Affiliation
The Rating Fund	Partner

Related Organizations

Current
Name	Relationship
Smart Campaign	Endorsement

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