Colombia
WOCCU has partnered with nine credit unions to increase the overall efficiency and profitability of the credit unions so they may better serve members and reach underserved populations. With WOCCU's assistance, one participating credit union launched its first non-correspondent bank, providing financial services through a local retail outlet. In doing so, the credit union expanded its presence at a lower cost, while the retail outlet increased its sales by attracting new clients and offering increased member benefits, including a new convenient location and expanded business hours.
The nine project credit unions in Colombia have reached more than 80,000 members, almost half of which are women. Combined, these women have saved US$18,290,700.
