Ecuador

Strengthening the association of savings and credit cooperatives UCACSUR

Project description

Since September 2011 Sparkassenstiftung executes a project to strengthen the association of savings and credit cooperatives (UCACSUR) in Cuenca, Ecuador.

The main project goal is to reinforce UCACSUR and further its development into an efficient institution. By empowering the association to offer extended services to its affiliated savings and credit unions, the level of professionalism of these institutions is increased and their development potentials are improved. Such a progress is of benefit to the entire microfinance sector, as sustainable economic development and financial inclusion in the pertaining region are promoted at the same time.

UCACSUR was founded in 2002. The association currently comprises 20 member institutions, consisting of regulated and not regulated savings and credit unions. UCACSUR is strongly focusing on cooperative philosophy with its social responsibility for savings and credit unions. UCASUR is the first microfinance association in Ecuador being awarded a certificate from Alianza Cooperativa Internacional (ACI) for its outstanding social balance and commitment.

Services provided

• Strengthening the association based on the results of a recent status-quo analysis
• Support of member institutions’ professionalism (in particular of so far not regulated institutions) through the association (inter alia by raising the staff’s qualification level und supporting the institutions’ internal procedures)
• Development of a technique to evaluate and categorise its member institutions, leading to an increased satisfaction of needs
• Improvement of education and advanced training offers of UCACSUR to be provided to its members (e.g. by setting up an own academy in the long run), thus enhancing the development potentials of the affiliated institutions
• Promotion of financial inclusion and integration of deprived population segments into the formal financial sector