Cooperativa de Ahorro y Credito Mujeres Unidas - CACMU
CACMU LTDA is a Savings And Credit Cooperative society (SACCO). In the year 2000 110 women from 13 different local organizations took the initiative to create employment for women in rural and marginal areas. Meanwhile improving productive abilities for indigenous, black and mestizo micro entrepreneurs and their families. CACMU believes that financial services are vital for the development of local economies in poor areas. Its aim is to be a specialized cooperative providing sustainable financial services and -through strategic alliances- technical assistance in the northern areas of Ecuador.
By mid-2007, CACMU attends 1.600 persons (mainly women) organized in 48 local organizations and 78 solidarity groups. The cooperative society has a large outreach to rural sectors using a 'group lending' methodology whereby women organize themselves into groups and share their overall risk. One mechanism is the use of mobile financial services.
CACMU's mission is: 'to be an important cooperative of organizations, specialized in covering economic needs and local initiatives of the women and families in marginal urban and rural areas, as well as small projects of local enterprises in northern Ecuador, providing competitive interest rates, social aid and agility of services to construct a better country.
CACMU's vision is: 'to be a specialized cooperative providing sustainable financial services of savings and credit and technical assistance in the northern part of the country, improving with honesty the quality of life of small business women from vulnerable layers, their families and that of other solidarity organizations in Ecuador'.
By mid-2007, CACMU attends 1.600 persons (mainly women) organized in 48 local organizations and 78 solidarity groups. The cooperative society has a large outreach to rural sectors using a 'group lending' methodology whereby women organize themselves into groups and share their overall risk. One mechanism is the use of mobile financial services.
CACMU's mission is: 'to be an important cooperative of organizations, specialized in covering economic needs and local initiatives of the women and families in marginal urban and rural areas, as well as small projects of local enterprises in northern Ecuador, providing competitive interest rates, social aid and agility of services to construct a better country.
CACMU's vision is: 'to be a specialized cooperative providing sustainable financial services of savings and credit and technical assistance in the northern part of the country, improving with honesty the quality of life of small business women from vulnerable layers, their families and that of other solidarity organizations in Ecuador'.
Type organisatie |
Membership organisation |
Werkveld |
Financial Services |
Land |
Ecuador |
Opgericht |
2001 |
Hivos partner sinds |
2007 |
Website |
http://www.fundacioncacmu.org |
Mobile financial services for rural areas (CACMU)
| DAC-sectors: | Banking and financial services |
|---|---|
| Location: | Ibarra (Imbabura) |
| Beneficiary: | indigenous peoples, ethnic/religious/cultural minorities |
| activity | Institutional Strengthening of the cooperative CACMU, mobiel agencies and community Cajas Solidarias |
| Direct outreach | 1640 - Beneficiaries: poor and/or marginalised women and men |
| Indirect outreach | 6560 - Beneficiaries: poor and/or marginalised women and men |
| activity | Strengthening rural credit and marginal urban rotating fund |
| Direct outreach | 1640 - Beneficiaries: poor and/or marginalised women and men |
| Indirect outreach | 6560 - Beneficiaries: poor and/or marginalised women and men |
| Contract total: | 119.047 |
| Contractperiod: | 01-01-2008 until 31-12-2010 |
| Description: | |
|---|---|
| CACMU has used micro credits to strengthen the economic activities of poor people in Northern Ecuador. They maintained the rate of female self-employment at 69% assuring the protection of youth and childhood and restraining the migration from rural to urban areas and the exterior. For CACMU to maintain their strong market position, they need to strengthen their rural financial services and improve the infrastructure and technology for mobile financial services. The manual management of mobile financial services implies high costs and immobile financial agencies in rural communities with a low population density proved to be unprofitable. CACMU asks Hivos funding to strengthen their mobile services in communities to improve its financial position, reflected in the following challenges: (1) improvement of mobile financial services technology, that is still done manually at the moment (2) achieve self-sustainability of two mobile services attention points in rural areas (3) increase internal efficiency and internal control through the redesign of savings, credits and regulation processes in 'Cajas Solidarias' and mobile financial services (4) increase in resources available for mobile financial services in the two service attention points (5) consolidate community positioning of the cooperative, improve its profitability and increase rural savings (6) update the strategic plan of CACMU, and elaborate a business plan for 2008-2010 in accordance with current circunstances. The present project is an integral part of the institutional plan of CACMU for the next years. CACMU aims to become financially self-sustainable in the near future. Being financially self-sustainable, CACMU Ltda can guarantee the existence of alternative financial products in service of productive organizations of vulnerable people in the North of Ecuador. |
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