Investing in this institution is investing in hope.
As we see climate change continue to impact vulnerable populations around the globe, in Ecuador, credit and savings cooperative Jardín Azuayo supports its members in becoming more sustainable, including through climate adaptation initiatives.
Founded in 1996 after a catastrophic landslide in Paute, Jardín Azuayo was established to help empower the local community by providing loans and later introducing savings products.
The cooperative has grown to become the second largest in Ecuador, with assets totaling USD 1.563 million and equity of USD 204 million. It serves over 700,000 members, 43% of whom are female, across eight of the country’s 24 regions. Additionally, approximately 150,000 members benefit from microcredit services.
Since its inception, Jardín Azuayo has experienced significant growth and transformation. Notable developments include the implementation of the JASIT data processing system, based on Oracle, alongside the establishment of an independent communications network and a high-level backup data center.
Additionally, the cooperative has fostered democratic participation, ensuring representation from both small towns and large cities. Through its network of branches, solidarity correspondents, ATMs, and payment buttons, Jardín Azuayo also prioritizes cooperative education and digital inclusion across the country.
Essential services and social impact
Jardín Azuayo members highly value access to fair, affordable financial services, active involvement in decision-making of the cooperative, resource security, and access to training and financial education programs. They also appreciate the cooperative’s focus on collective well-being and community development.
The cooperative has always been strongly committed to social impact through financial stability, inclusion, and support. An impact study conducted in 2023 found that 38% of respondents reported a significant improvement in their quality of life, while 26% stated that their ability to manage their finances had ‘very much improved’.
Over the years, the cooperative continues to empower its members through various initiatives, improving their quality of life and creating more independent households and communities. It offers financial education programs that help members better manage their personal and business finances, enabling them to make more informed decisions. The cooperative also provides accessible and solidarity credits at affordable rates for purposes such as housing, business, and education, specifically targeting sectors that face challenges accessing financing from traditional banks.
In addition, Jardín Azuayo invests in community projects, such as basic infrastructure and local development programs, fostering social cohesion and overall well-being. Members play an active role in the cooperative’s governance, with the ability to influence decisions through periodic assemblies and elections, ensuring a participatory and transparent approach. Furthermore, the cooperative prioritizes social inclusion by offering financial services to individuals who are typically excluded from traditional banking.
Looking forward
Looking to the future, changes within Ecuador and the evolution of the cooperative will impact its current and potential clients.
First, the ongoing digital transformation, including the widespread adoption of mobile banking and the rise of Fintech, is reshaping financial services and reducing the need for in-person transactions. Additionally, evolving financial regulations, such as changes in tax policies, risk control measures, and rules on financial inclusion, will directly influence how Jardín Azuayo operates, impacting both its offerings and its ability to serve members.
The growing emphasis on sustainability and the green economy is also important, as there is an increasing demand for credits that align with environmental principles. This will not only attract partners committed to environmental responsibility but also meet the growing demand for environmentally-conscious financial products. Furthermore, the continued expansion of the popular and solidarity economy presents opportunities for Jardín Azuayo to promote community-strengthening projects and foster social entrepreneurship.
Lastly, Ecuador’s vulnerability to natural disasters such as earthquakes, floods, and droughts makes climate change a critical issue. Jardín Azuayo will play a vital role in financing projects that enhance community resilience, support food security, and improve disaster risk management.
Conclusion
Jardín Azuayo CFO Enma Elizabeth Eras Soto said, “For Jardín Azuayo, investments by highly prestigious institutions such as Triple Jump are of great importance because they allow it to increase its reach and serve more people, permitting the empowerment of vulnerable groups. For Triple Jump, it is a means to significantly influence rural communities that were historically underserved in the regions that Jardín Azuayo has grown over the last 27 years. Investments of this type provide security in times of global instability. Triple Jump’s commitment to working beyond returns allows the cooperative to offer low-cost services, activating the economy in communities that have been affected by the current situation.”
The cooperative’s proactive approach will continue to strengthen its reputation as a safe and trustworthy institution in Ecuador, leveraging regulations that support financial inclusion. The institution aims to invest in accessible digital platforms for both rural and urban communities, enhancing operational efficiency, promoting technological inclusion, and reducing costs.
By financing sustainable projects, particularly in renewable energy and ecological agriculture, it can further its commitment to environmental responsibility. Furthermore, by providing microfinance programs to help communities recover from natural disasters, Jardín Azuayo demonstrates its ongoing commitment to local well-being.
Additionally, as the popular and solidarity economy continues to expand in the coming years, Jardín Azuayo can support social entrepreneurship and community projects, reinforcing its role as a key player in Ecuador’s economic and social landscape.
Jardín Azuayo stands as a key partner in driving positive change in Ecuador. Backed by the support of Triple Jump and ASN Impact Investors, the institution adheres to high standards, best practices, and a commitment to project sustainability. With this ongoing support, Jardín Azuayo is well-positioned to continue empowering its members by providing access to safe, adaptable financial services, fostering sustainable growth, and making a meaningful impact in both rural and urban communities.
Jardín Azuayo is an investee of the ASN Microkredietpool and Microbuild Funds.
