We are happy to welcome our new member from Hungary – Almavirág Összefogás Értékteremtő Kereskedelmi Szociális Szövetkezet!
Read below how they introduce themselves:
The cooperative has been founded in 2013 and is recognised as one of the key partners for achieving sustainable development goals in the region of Gyöngyös (Hungary) and its agglomeration regrouping 24 municipalities.
All our members are guided by cooperatives values and principles to empower people through entrepreneurship. We are active in every sector, with special focus on environmental protection, health issues and strive to increase local economic growth and reduce poverty.
Among other of its activities our cooperative reveals to be as an alternative model to help those disadvantaged who have limited access to the conventional banking with a portfolio more adapted to their needs. Beside of enhancing financial accessibility to capital, with our financial education program we help our clients to find debt solutions and better understand their own finances.
Key strengths in our financial programming include: demand-driven, tailored programs and services by developing growing, diversified credit portfolios for individuals, micro and small businesses.
For certain group of our clients we implement methodologies such as group lending and liability and in order to evaluate clients’ credit worthiness we adopt the gradually increase in credit sizes. Disabled or marginalised people are also supported. Alongside the financial support we provide training in financial literacy, saving techniques…
We provide loans for 12 month or longer and give clear and accurate information to our customers in an annual statement about their loan and we take all necessary measures to ensure that our customers fully understand the terms of the contract.
We also provide loans for a term of up to one year for business development: financing of investment projects, working capital, supplementing working capital, where loans can be granted with or without pledging of property.