Larisa is from the village of Ashotck in the Shirak region of Armenia. She is happily married with four children – two daughters (forty and forty-two years old) and two sons (thirty-six and thirty-eight years old). Larisa has a secondary education and has been farming for the past forty years. She also supports her relatives living in the city with produce grown on the family farm. Larisa would like a loan to purchase animal feed and fix the livestock shed. She expects this investment to increase the family income by fifteen percent. Larisa is pleased with the services of microfinance, especially that the loan payments are collected in the village. Larisa really enjoys the life of a farmer living in Ashotck.
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.