Arshaluys is from the village of Keti in the Shirak region of Armenia. He is happily married with three children – two daughters (eight and seventeen years old) and an eighteen-year-old son. Arshaluys has a university education as an economist. Ironically, with the difficult economic situation in Armenia, he is not working in his area of specialization. To support his family, Arshaluys has been engaged as a farmer for the past ten years. He is known for being a hardworking, honest person. Arshaluys is looking for a loan to purchase livestock and feed. He estimates that this investment will increase the family income by twenty percent. Arshaluys wants to save enough money so his children will receive a university education. He would also, someday, like to remodel the family home. He likes his hometown of Keti, which has beautiful land and fresh water.
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.