Susanbar is from the village of Saratak in the Shirak region of Armenia. She is married with four children – two daughters (twenty-nine and thirty-seven years old) and two sons (thirty-three and thirty-five years old). Susanbar has a high school education and has been working in agriculture for thirty-nine years. She supports her family with the proceeds of the family farm. She dreams of saving enough money to help her grandchildren attend university. Susanbar is looking for a loan to purchase potato seeds and fertilizer. She expects her investment to increase the family income by twenty-five percent. Susanbar enjoys living in Saratak as she is close to her children and grandchildren.
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.