Garegin is from the village of Jajur in the Shirak region of Armenia. He is married with three children: a twenty-four-year-old daughter and two sons (ages twenty-four and twenty-five). He has supported his family with his hard work over the past twenty years as a farmer. He would like to increase his savings to open a small shop in the village. Garegin requests a loan to purchase livestock and feed. This small investment will increase his family's income by thirty percent. He is pleased with microfinance services and enjoys living in Jajur, surrounded by his relatives 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.