Samvel lives in the Shirak region of Armenia in the village of Kaps. He is engaged in raising livestock. The village of Kaps is favorable for this type of agricultural activity. Samvel is married with three children: two daughters (eight and fifteen years old) and a nine-year-old son. He also supports his brother’s family with produce grown on the family farm. Samvel would like a loan to purchase additional livestock. According to his business plan, this investment will increase the family income by 20 percent. He will use some of the additional income to save for his children’s education.
About the Field Partner – AREGAK Universal Credit Organization
In the fall of 1997, United Methodist Committee on Relief (UMCOR) established the AREGAK microfinance program, with the purpose to create economic opportunities for low income people who have no or limited access to the formal financial sources, especially in the remote rural areas. The microfinance program rapidly became one of the largest MFI in Armenia in terms of number of active clients and portfolio size.
In March of 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 and continues initiatives geared toward the fulfillment of its ethical principles
To be the most dynamic and ethical financial institution in Armenia and Nagorno Karabagh.
AREGAK supports the economic development of small and medium entrepreneurs with high quality, accessible and reliable financial services.
AREGAK UCO’s Ethical Principles
1. Integrity and Excellence
We deliver on our promises
We are honest and transparent in everything we do
We provide excellent customer service
2. Respect and Inclusion
Our leadership, workforce and decision-making reflect and respect the diversity of customers and communities we serve.
We value all employees, investing in their personal and professional growth.
We develop new processes and systems to improve efficiency
We create value added new products to enhance economic opportunities
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.