Savings House Moznosti LLC Skopje

Gross Loan Portfolio USD, 2010: 35.9 million

Number of active borrowers 2010: 7,248

Average loan balance per borrower USD, 2010: 4,956.7

Deposits USD, 2010: 7.1 million

Assets USD, 2010: 38.3 million

Number of depositors 2010: 7,813

Mission:

Our mission is to help people start and develop small businesses that will generate income and new employment for a wider community. We are committed to helping people that either have little or no capital at all. We do this out of love gor people. We are aware that providing a helping hand in ... Read more

Background and Main Challenges:

Moznosti is the first micro finance institution in the Republic of Macedonia. It is founded in 1996 as a non-profitable and non-governmental association of citizens. The overall succes of Moznosti's work has been an inspiration for enlargement of loan products and services offered to our ... Read more

Address:

bul. Jane Sandanski 111

Skopje

Republic of Macedoni

1000

Macedonia

Phone:

++389 2 2401051

Fax:

++389 2 2401 049

Email:

moznosti [at] com [dot] mk

Website:

www.moznosti.com.mk

Main Funding Sources:

Loans

Savings

Shareholder Capital

Products and Services:

Loans

Voluntary Savings

Looking for (Investment Types):

Loans in Local Currency

Donations

Capacity Building Grants

Equity investments

% Operations Comprised by MF:

91 - 100

Date established:

Jan 1 1996

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
Clients living in urban areas	2
+ Development goals (ranked by importance)
Development of start-up enterprises	1
Growth of existing businesses	2
Employment generation	3
Housing	4
+ Poverty targets
No specific poverty target
+ 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
Loans for agriculture
Loans for education
Housing loans
+ Savings products offered
Voluntary savings accounts
Compulsory savings accounts (cash collateral)
Fixed term deposits
+ Compulsory insurance products required
+ Voluntary insurance products offered
+ Other financial products and services offered
+ 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).
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.
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
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
Portfolio quality
+ Social responsibility to the environment
+ Poverty measurement tools in use

Partnerships

Current
Name	Relationship
MFC	Network Affiliation
Microfinanza Rating	Rating
Opportunity International	Network Affiliation

MFI Report