Cooperative banking in El Salvador
Banco Izalqueño de los Trabajadores Sociedad Cooperativa de RL de CV (Banco Izalqueño) is a regulated cooperative bank specialising in financing micro, small and medium enterprises as well as supporting municipal development such as parks, roads and markets. Established in 1991, Banco Izalqueño is one of six cooperative banks in El Salvador that is authorised to take monetary deposits from the public.
Financing micro and small entrepreneurs
Banco Izalqueño currently has three branches, mainly operating in urban areas in Sonsonate and Santa Tecla, with around two thirds of its members being women. Oikocredit is the first international lender to support Banco Izalqueño. Oikocredit disbursed the first tranche of its US$ 2.5 million loan to Banco Izalqueño in May 2015, which will be used to finance micro and small entrepreneurs and other productive sectors.