1.5 million dollar line of credit for Honduran credit union

The Central American Bank for Economic Integration (BCIE) granted a line of credit of $1.5 million to the Taulabe Credit Union.

Tuesday, October 21, 2008

The Taulabe Credit Union provides resources to finance working capital and medium and long term operations, the BCIE said in a press release.

The main activity of the credit union is to provide financing for business, housing, productive, agricultural and cattle sectors, to mention a few, in addition to the savings service.

More on this topic

El Salvador: Savings Cooperatives Growing

March 2014

Between 2006 and 2013 the number of agencies in the network of cooperatives in the country doubled.

Salvadoran Credit Unions have experienced a significant increase in the last year in order to expand financial services in most areas of the country.

The Federation of Savings and Credit Cooperatives of El Salvador (Fedecaces) announced that "growth is supported by an increase of over 20% in the portfolio of loans and deposits, after the close of 2013."

Order to Liquidate Cooperative in Panama

March 2013

The Panamanian Autonomous Cooperative Institute yesterday ordered the liquidation of the Savings and Credit Cooperative for Employees of the Social Security Fund, due to irregularities in its operations.

Cooperativa de Ahorro y Crédito Empleados de la Caja de Seguro Social (Coacecss), was seized in June last year, triggered by an "administrative and financial deterioration" in its handling, specifically for opening foreign accounts for excessive amounts on the entity's balance sheet.

Guatemala: Credit Unions To Be Supervised

February 2011

Regulators are preparing legislation to supervise credit unions.

The new rules apply to all credit unions associated with Micoope (brand which brings together the Credit Unions Federated Cooperatives throughout Guatemala).

Lorena Alvarez from Elperiodico.com.gt writes, "The proposal seeks to integrate financial cooperatives which provide services within the regulated system, as in most Latin American countries, said Eduardo Soto, supervisor of the regulations development department of the Superintendence of Banks (SIB).”

IMF opens short term lines of credit

October 2008

The International Monetary Fund (IMF) will direct the resources to those economies suffering the most at finding financing.

The IMF announced yesterday its decision to increase its efforts to support those countries affected by the crisis, and is considering advancing liquidity for short periods, but on the condition that proper administration be of said funds be carried out.

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