Asociación para el Desarrollo de las Cajas Rurales

Gross Loan Portfolio USD, 2010: 1.2 million

Number of active borrowers 2010: 2,840

Average loan balance per borrower USD, 2010: 422.1

Deposits USD, 2010: 144,314.0

Assets USD, 2010: 1.6 million

Number of depositors 2010: 4,267

Mission:

Brindar servicios financieros a la población rural pobre del país.

Background and Main Challenges:

Rentabilidad versus misión, gobernabilidad.

Address:

Calle Novena Final, Frente al Ministerio de Vivienda

Santiago de Veraguas

Veraguas

Panama

Phone:

(507) 998-7619

Fax:

(507) 998-7629

Email:

procaja1988 [at] cwpanama [dot] net

Website:

www.procaja.com

Main Funding Sources:

Loans

Savings

Shareholder Capital

Products and Services:

Loans

Voluntary Savings

Looking for (Investment Types):

Loans in Local Currency

Donations

Loans in US$

% Operations Comprised by MF:

91 - 100

Date established:

Jan 1 1996

FYE:

31-Dec

Current Legal Status:

NGO

Regulated:

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Clients living in rural areas	1
+ Development goals (ranked by importance)
Increased access to financial services	1
Poverty reduction	2
Employment generation	3
Growth of existing businesses	4
Housing	5
+ Poverty targets
Poor clients
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
Loans for agriculture
Loans for education
Housing loans
Ganadería menor y mayor, se trata de atender las necesidades de la familia rural.
+ Savings products offered
+ Compulsory insurance products required
Seguro saldo deudor, para que por muerte no prevista del cliente la familia tenga que cargar con la deuda del préstamo.
+ 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
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
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)
Uniformes, medios de movilización, ambiente seguro de las oficinas..
+ 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
+ Social responsibility to the environment
This institution identifies enterprises with environmental risk
+ Poverty measurement tools in use

Partnerships

Current
Name	Relationship
Envest	Funding
REDCAMIF	Network Affiliation
REDPAMIF	Network Affiliation

MFI Report