Cooperativa de Ahorro y Credito Fondesurco
Cooperativa de Ahorros y Creditos Fondesurco (COOPAC FS) focuses on micro and small entrepreneurs, predominantly in rural markets from the South of Peru. Their clients are people who have difficulties accessing the financial system. About 86% are living in remote rural areas, and most live below the national poverty line and their financial needs are limited to their reality as the average credit stands between USD 1.000-1,500. Fondesurco has an exclusive client base of about 55%, one of the highest in the Peruvian MF sector. 46% of clients are female, 70% of total active borrowers are self-employed and 30% have one hectare of their own crop. About 36% of households are made up of four members, two of which have paid work, with a monthly income per family member of about USD 250. Most heads of household have a secondary education level (45%), and the main economic activities are agriculture, livestock and trade. The average poverty rate of the population served by Fondesurco stands at about 36%, having limited access to health services, education, transportation and communications.
Fondesurco aims to consolidate the triple bottom line by promoting sustainable economic, social and environmental accountability, based on its strategic pillars and its current offer of client products. In addition, an internal study shows that 84% of Fondesurco clients increased their income due to credit, which were allocated to improve and strengthen their economic activity (73% through the purchase of machinery/tools, soil improvement, improvement of seeds, improvement in water use), family welfare (37% housing improvement, health, safety), development of family potential (39% purchase of goods that increase the family’s capacity such as computers, washing machine, etc), recreation and comfort (31%, holidays, trips, recreation equipment, television, etc).