Tereza is from the village of Gharibjanyan in the Shirak region of Armenia. She is married with a fourteen-year-old daughter and a sixteen-year-old son. Tereza has a high school education and has been engaged in farming for the past eighteen years. In addition to supporting her family she helps relatives living in the city with agricultural products grown on the family farm. Tereza is looking for a loan to purchase potato seeds and fertilizer. She expects this investment to increase the family income by twenty percent. It is Tereza’s dream for both of her children to receive a university education, and she is saving some of the income from her farming business. She enjoys living in Gharibjanyan surrounded by family and friends.
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.