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The San José Credit and Savings Cooperative is located in San José de Chimbo Canton, in the central mountains of Ecuador’s Bolivar Province. The cooperative has been in existence for 45 years, and its work is primarily focused in rural areas. It is regulated by the SBS, Ecuador’s Superintendent of Banks and Insurance Providers.
 
Our vision: To combine leadership, competitiveness and financial solvency with committed human talent, appropriate technology, and innovative financial services and products while meeting financial standards and appropriately managing risk. 
 
Take a few minutes to learn about Cooperativa San José's rural loan program:
 
Currently the only loans on Kiva from Cooperativa San Jose are from their “Ventanillas Rurales” (Window to the Countryside) loan product, or VR for short. This loan was designed specifically for rural borrowers who are far from branch locations. Most loans are given to agriculturalists, but some go to small retailers. There are several features of this unique loan type;
 
1) Loans are individual, but are guaranteed by self-selecting groups of 10 to 30 members.
 
2) CSJ is one of the few credit unions on Kiva. As such, borrowers have the same membership rights and responsibilities as other members, including a voice in institutional governance.
 
3) Loans include compulsory savings in order to educate recipients about the advantage of saving as well as borrowing. Interest rates on these savings are excellent compared to domestic banks.
 
4) Like all members of the credit union, VR borrowers receive comprehensive life insurance as long as they maintain a reasonable minimum balance in their savings accounts.
 
5) There are many repayment options depending on borrower needs and business conditions. For example, many agriculture loans have a single repayment just after the harvest.
 
6) CSJ offers training sessions for borrowers which focus on how to increase their sales.
 
7) Loan officers travel to attend group meetings once a month to collect payments and deposits.
 
8) In November of 2011, CSJ will begin bringing Personal Digital Assistants, or specially programmed smart phones with a blue-tooth printers, to monthly group meetings. These PDAs will allow borrowers to perform a range of transactions instantly and digitally, and to obtain a receipt for each transaction.
 
All these features contribute to a product that is highly developed and very appropriate to the needs of its rural customers. CSJ’s vision for the Ventanillas Rurales program is that it provide the best customer service possible to its most remote members. To achieve this, the VR team is constantly tweaking the program’s design in accordance with its own capabilities, member demand, and advances in technology.
 
Lend to CSJ’s entrepreneurs or join their lending team to support unique and appropriate loans for rural borrowers!
 
 
 


Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jan 27, 2010 Oct 12, 2005
Total Loans $3,436,675 $615,937,900
Amount of raised Inactive loans $0 $394,100
Number of raised Inactive loans 0 550
Amount of Paying Back Loans $333,750 $121,474,500
Number of Paying Back Loans 383 130,987
Amount of Ended Loans $3,102,925 $494,069,300
Number of Ended Loans 3,883 624,052
Delinquency Rate 0.89% 4.36%
Amount in Arrears $2,876 $3,417,623
Outstanding Portfolio $323,396 $78,313,876
Number of loanDelinquent 10 16,120
Default Rate 0.18% 1.10%
Amount of Ended Loans Defaulted $5,664 $5,427,172
Amount of Ended Loans $3,102,925 $494,069,300
Number of Ended Loans Defaulted 35 16,892
Currency Exchange Loss Rate 0.00% 0.10%
Amount of Currency Exchange Loss $0 $614,667
Refund Rate 0.26% 0.74%
Amount of Refunded Loans $8,800 $4,567,000
Number of Refunded Loans 11 5,104

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 46.82% 74.23%
Average Loan Size $806 $419
Average Individual Loan Size $806 $655
Average Group Loan Size $0 $1,835
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $10,200 $3,415
Average Loan Size / GDP per capita (PPP) 7.90% 12.26%
Average Time to Fund a Loan 8.88 days 5.75 days
Average Dollars Raised Per Day Per Loan $90.68 $72.86
  Average Loan Term 9.42 months 10.46 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 1,942 307,573
  Journaling Rate 41.89% 42.28%
  Average Number of Comments Per Journal 0.02 0.07
  Average Number of Recommendations Per Journal 0.07 1.80

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 16% PY 20.00% PY 33.15% PY
  Profitability (return on assets) 1.3% 1.8% -1.29%
  Average Loan Size (% of per capita income) 91.80% 49.00% 38.08%

Country Fast Facts

Field Partner Staff

Karina Arguello
César Luis Capuz Camacho
Belen Castillo
José Rafael Guillén Sierra
Karina Vaneza Mancero Silva
Cynthia McMurry
William Eduardo Trujillo Garcia