El Salvador: Savings Cooperatives Growing

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

Tuesday, March 11, 2014

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."

The strategy of approaching the population "resulted in a portfolio of deposits of $311 million dollars and a credit that totaled $344 million at the end of 2013."

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