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Cooperativa de Ahorro y Crédito Maimón Inc. - Savings, loans and essential services for a small town

Cooperativa de Ahorro y Crédito Maimón Inc.

Savings, loans and essential services for a small town

Dominican Republic

Cooperativa de Ahorro y Crédito Maimón Inc. (COOPMAIMON) is a cooperative offering savings, loans, and other services in the small town of Maimón and its surroundings.

COOPMAIMON was founded in 1990 with help from USAID and the Dominican Central Bank. The cooperative aimed to provide credit to those who had no access to banking services, and to organize basic services and infrastructure.

At its inception, COOPMAIMON obtained a very large sum of savings very quickly, as demand for its services was very high. Its founding members had a reputation for being honest, hard-working people, and its transparency and general good conduct have attracted a lot of attention from around the country.

COOPMAIMON not only provides savings accounts and various types of loans; it also offers a savings account for children, capital investment, deposits, health insurance, an ambulance service, and technical training. It has donated all local street signs, drink dispensers, a public park, and other infrastructure.

COOPMAIMON will use Oikocredit’s loan to better respond to the demand for micro and small loans.

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