Our History

Established:
Location:
Number of members:
Number of partners:
Remittances totals (2014):
Context:
Crisis:

14/09/2015

1996
Paute Azuay Ecuador
200,000
120
$45 million
Reconstruction after
disaster Josefina
An opportunity to innovate
development finance

Our Purpose/Mission
Jardin Azuayo Cooperative works
in a sustainable and effective way to provide community
financial services
Our mission
To contribute to socio-economic growth of our members and to
strengthen the local and solidarity economy through inclusive,
sustainable, and quality financial services.

14/09/2015

Guatemala

Ecuador

El Salvador

Honduras
Nicaragua
Venezuela
Guyana

Panama

Surinam
Columbia

15.6 million people

47% population <24yrs
2M-3M Ecuadorians live
abroad
Remittances: US $2.5 Billion

Ecuador

Brazil
Peru
Bolivia

Paraguay

Chile

Uruguay
Argentina

14/09/2015

Target Markets
Social focus:
family and local
organizations

By supporting them, we
support local community
development
14/09/2015

Business Growth Focus

Offering diverse financial services
(credit, savings) through
trade organizations,
producer associations
civil society groups

14/09/2015

Level of relevance
Credit Products
Products
Small Commercial Enterprises
4
4
Agricultural and livestock products
4
3
PYMES
4
4
Rural and urban productive organizations
5
3
Artisans
4
3
Carriers
3
4
Freelancers
3
3
Entrepreneurs
3
2
Retired
2
5
Migrants
2
5
Foreign Residents
2
5
Public and Private Employees
3
5
Housewives
2
3
Other productive sectors
4
3
Target

14/09/2015

Our Growth

TOTAL ASSETS:
PATRIMONY ASSETS:
PAR 30:
LIQUIDITY:
COVERAGE:
RISK RANKING

14/09/2015

US $498+ Million
US $ 63.5 Million
3.53%
16.86%
138.72%
Mar - 2015 A

Swisscontact Donor projects

Project support:

Project COOPFIN CREAR:

1998 2009
Funder: Swiss Agency for
Development and Cooperation

Remittances Initiative: 2010 2012

Funder: Multilateral Investment
Fund/Inter-American Development
Bank

14/09/2015

Swisscontact Donor projects

Swisscontact role in successful
partnership/business growth:
Technical assistance
Management/leadership support
Training for developing new savings
and credit products
Financial literacy Support and
strengthen integration of cooperative
network

14/09/2015

10

Remittances (May 2015): $5+ Million, 14,000 transactions

14/09/2015

11

Remittance customers become

savings and credit customers
The cooperative does not have a
traditional banking customer
base. Its customer base is
located in an area with high
migration, which contributes to
unique market characteristics.

14/09/2015

12

Offer financial literacy training to

remittance customers
24 cooperative educators, whose
areas of work are:
Providing clients with information
on advantages of savings, credits
Promoting the services of the
cooperative

14/09/2015

13

Creditworthiness: Remittance history

is an important factor

Using remittances in credit determination,

Jardin Azuayo facilitates the financing of
new enterprises, especially for migrants
who have family members abroad.

14/09/2015

14

Remittance transactions shift

from family/social support to
investment in training/family
businesses

Partner: Santa Ana Parish

supporting family-owned
business raising guinea pigs
14/09/2015

15

Canton Sigsig partner, dedicated to making straw hats

the panama hat.
14/09/2015

16

Gualaceo partner in her handmade shoe factory, with

support from her two migrant brothers
14/09/2015

17

Future actions for working with remittances

Quality

STRATEGY

Proximity

Service

14/09/2015

Direct
Communication

Chat online
Line US, Spain, Italy

Transfer Channel

Swift
Bank Correspondent

Diversification of
services

Improved Web
Financial Literacy
training
Savings, Credit Services
Business lending
18

Thank you for your attention

14/09/2015

19