Credit Unions Retooled: A Roadmap for Financial Stabilization
Richardson, D., Lennon, B. & Branch, B.
Publication Date: 1993
Published by: WOCCU - World Council of Credit Unions
Document Type: Paper
What are the key components of the credit union strengthening programme in Guatemala?
Documents the key components of the financial stabilization programme in Guatemala, called the cooperative strengthening programme (CSP)
The aim was to recapitalize and reorient credit unions that had become stagnant and unresponsive to members? needs. The new programme instituted new disciplines, policies and procedures within the national credit union movement. A main component of the overhaul is a supervisory and evaluative mechanism called PERLAS
Outlines: - tenets of financial stabilization that provided the framework for the credit union overhaul
- problems with the traditional credit union model, including donor dependency
- elements of a new, self-sufficient, market- oriented credit union model
- public and private sector processes in Guatemala that led to financial stabilization
- programme tools, monitoring and evaluation of financial stabilization
Reforms brought all 20 participating credit unions increases in membership, increased loans outstanding, deposit savings and retained earnings
Concludes that the Guatemalan experience can be a roadmap for carrying principles, policies and tools developed here to other credit union movements.
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