Ayyub Q. is a 52-year-old farmer living in Imishli, Azerbaijan. He has lived in the same small village his entire life. For the past 12 years, he has earned a living by selling the milk and yogurt he produces from a dairy cow. To expand his business, he has applied for a loan of $1,200 U.S. dollars to purchase three calves to raise.
Aqroinvest Credit Union was founded by a group of 32 Imishli farmers in 2001, and has grown to become one of the largest credit unions in Azerbaijan. It boasts a portfolio of nearly $5 million and is wholly owned by its more than 3,500 borrowers, as of December 2011.