Astghik is from the village of Vahramaberd in the Shirak region of Armenia. She is the proud mother of a 29-year-old daughter and a 25-year-old son. Astghik has a high school education. She has been farming with her husband for 20 years. She is working hard to grow her business and save money for the future. Astghik would like a loan to purchase feed for the livestock and fuel for the harvesting machinery. This investment should increase the family income by 10%. She is pleased with the microfinance services available to her and the assistance meeting the family’s financial needs. With limited economic opportunities in Vahramaberd, most of the villagers are engaged in farming. Astghik enjoys the rural lifestyle and living near her close relatives.
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.