Nina is from the village of Aregnadem in the Shirak region of Armenia. She is happily married with three wonderful children: a twenty-year-old daughter and two sons (ages twenty-three and twenty-four). Nina has a high school education and has been farming for the past fifteen years. She also supports her relatives living in the city with produce grown on the family farm. Nina wants a loan to purchase calves and fertilizer. She expects the family income to increase by twenty-five percent with this investment. She keeps her business debt low, at less than twenty percent of her equity investment. Nina enjoys living in Aregnadem.
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.