Aghunik is from the village of Arevshat in the Shirak region of Armenia. She is married with three children – two daughters (twelve and sixteen years old) and a seventeen-year-old son. Aghunik has a high school education and has been engaged in farming for the past fifteen years. Aghunik also supports her family in the city with products grown on her farm. She considers herself a hardworking, honest person. Aghunik is looking for a loan to purchase wheat seeds and fertilizer. She expects the family income to increase by ten percent with this investment. She dreams of having her children receive a university education.
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.