September 11, 2011
As part of an ongoing effort to fully migrate risk ratings to our new and enhanced risk rating system, Kiva has conducted a re-assessment of the level of risk posed by this institution.
During this re-assessment, our analysts were able to gather updated operational and financial information about the institution, as well as speak with key members of the staff. 
The information gathered during this process, together with the Kiva's new risk rating system and half-star support, has led us to revise Cooperativa San Jose's risk rating from 5 to 4 stars. The analysts have found that Cooperativa San Jose's risk variables, reviewed in the new risk rating model, were most representative of a 4-Star rating.
We have prepared a blog post with more information on Kiva's new and enhanced risk rating system, along with a chart showing the relative magnitude of the overall changes for Kiva's portfolio.  To view that, please go here:
Cooperativa San Jose has been informed of our analysts’ findings and their corresponding change in rating.
Original Partner Description
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 $3,408,675 $586,752,200
Amount of raised Inactive loans $600 $577,875
Number of raised Inactive loans 1 497
Amount of Paying Back Loans $327,450 $119,930,525
Number of Paying Back Loans 370 126,855
Amount of Ended Loans $3,080,625 $466,243,800
Number of Ended Loans 3,857 592,926
Delinquency Rate 0.84% 3.31%
Amount in Arrears $2,600 $2,600,200
Outstanding Portfolio $309,917 $78,632,824
Number of loanDelinquent 11 9,782
Default Rate 0.18% 1.14%
Amount of Ended Loans Defaulted $5,664 $5,336,912
Amount of Ended Loans $3,080,625 $466,243,800
Number of Ended Loans Defaulted 35 16,802
Currency Exchange Loss Rate 0.00% 0.08%
Amount of Currency Exchange Loss $0 $480,684
Refund Rate 0.26% 0.77%
Amount of Refunded Loans $8,800 $4,496,250
Number of Refunded Loans 11 5,040

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 46.82% 74.16%
Average Loan Size $806 $418
Average Individual Loan Size $806 $656
Average Group Loan Size $0 $1,827
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $10,200 $3,432
Average Loan Size / GDP per capita (PPP) 7.90% 12.19%
Average Time to Fund a Loan 8.84 days 5.58 days
Average Dollars Raised Per Day Per Loan $91.22 $75.00
  Average Loan Term 9.39 months 10.31 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 1,942 293,078
  Journaling Rate 42.28% 42.42%
  Average Number of Comments Per Journal 0.02 0.08
  Average Number of Recommendations Per Journal 0.07 1.89

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 33.64% PY
  Profitability (return on assets) 1.3% 1.8% -1.40%
  Average Loan Size (% of per capita income) 91.80% 49.00% 41.35%

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