Mayrenik is living in the Shirak region of Armenia in the village of Metz Mantash. She was born in Metz Mantash and has lived her entire life there. The main activity in Mayrenik’s village is agriculture. She has a high school education and has been farming with her husband for the past fifteen years. She has two wonderful children – a twenty-one-year-old daughter and a twenty-year-old son. Mayrenik hopes she will be able to support her children to help them finish their university education. She would like a loan to purchase seeds and fertilizer. This investment should increase the family income by twelve percent. Mayrenik is pleased with microfinance services and looks forward to the future.
About AREGAK Universal Credit Organization
In 1997, United Methodist Committee on Relief (UMCOR) established the AREGAK microfinance program with the aim of creating economic opportunities for low-income people who lack or have limited access to formal financial services, especially in remote rural areas. The microfinance program rapidly became one of the largest microfinance institutions in Armenia in terms of the number of active clients and portfolio size.
In 2006, AREGAK UCO was registered as a universal credit organization structured as a closed joint stock company with UMCOR as the sole shareholder.
Today, AREGAK UCO provides a broad range of financial services to the population without compromising the social aspects of its mission. It continues pursuing initiatives geared toward the fulfillment of its ethical principles. To learn more about AREGAK UCO, visit its Kiva Field Partner page.