Member since 2018
USD credit 150'000
The COACSAC credit and savings cooperative was created to facilitate access to credit for indigenous populations in central Ecuador. Today it has nearly 125,000 members.
Project description
In 1980, in the rural parish of Ambato, representatives of the indigenous community created an informal saving and credit service. In 1999, the service was legalized as a Savings and Credit Cooperative under the name COACSAC. In 2019, it merged with another similar cooperative to achieve economies of scale. In 2023, it has 12 branches, mainly in the central and northern Sierra region of the country.
Challenges & perspectives
Control the portfolio’s risk at member level.
Strengthen its equity.
Key figures
Total assets: USD 108’431’247
Equity: USD 10’520’060
Turnover: USD 15’461’205
Net result: USD 362’918
Number of beneficiaries:
Femmes : 59’985
Hommes : 62’254
Philea’s Intervention
Purpose/purpose of funding:
working capital
Disbursement: June 2022
Loan size: USD 150’000
Outstanding: USD 150’000
Guarantee: portfolio guarantee
Repayment: according to schedule. Renewal request in progress.
Usefull data
Country: Ecuador
Head office: Ambato
Philea member since: 2018
Web site
Impacts
Access to credits and savings for indigenous populations.