Strengthening Community Banks in Cotopaxi
Marlene Rivera's Story
"Being part of the community bank has changed my life. I sell shoes in the market and although I only have a $150 loan with the community bank, it has helped my business. More important is the effect the community bank has had on me personally. I talk with the other women and I am happy because we are united; we talk about health, play soccer, and have even taken a trip together. The community bank was my wake-up call. I had never participated in courses about organization and how to treat other people. We planned a rally and marched with a sign 'I Want You To Clean Saquisilí' to promote keeping our town clean. I have also participated in workshops on children's rights and I learned about respecting children and youth and how to treat them. After these workshops, I returned home and used the information with my own children. My life, socially, economically and religiously, is better because of the discussions we have in the community bank. The community bank has helped me psychologically as well. I used to be rude and yell a lot because I didn't have self-esteem, but I learned that children grow up to be like their parents, so I learned to be different. I don't want my children to act like I used to. I was a different person because I didn't feel like I was worthy. I now know that I am valued as a woman and I am not afraid to talk about how I used to be. These are things I learned and will carry with me my entire life."
Marlene Rivera, a beneficiary of the Strengthening of Community Banks in Cotopaxi Project in Latacugna, Cotopaxi Province.
How Do We Do This Project and What Are Our Accomplishments to Date?
The Strengthening of Community Banks in Cotopaxi project is implemented by the Diocese of Latacunga with three specific components Microfinance, Health Promotion and Civic Participation.
The project goal is to support improvement to the living conditions of 1,208 families living in rural communities in the Province of Cotopaxi through the strengthening of Community Banks which provide high quality, efficient and sustainable financial services to the poor. Its specific objectives are:
- Community Bank members have access to high quality credit and savings services
- Community Bank members adopt healthy life style habits including good nutritional practices and promote clean and healthy environments in their communities
- Community Bank members know and apply tools for civic participation
The project is currently benefiting 1,208 women, members of Community Banks in the Cotopaxi Province.
Background of the Project
CRS Ecuador's projects use community participation as an essential element in strengthening local capacity over the medium and long term. This project is representative of CRS Ecuador's microfinance program which works to improve the poor's access to microfinance services, as well as to increase the capacity of Community Bank members to strengthen their micro-enterprises and productive ventures, improve their self-management capabilities, increase their earnings to improve their quality of life, and lobby and advocate for social policies that respond to their needs.
Community Banks are a methodology of extending credit and promoting savings based on the principle of grassroots organizations with self-management capabilities. Typically, between 25 and 30 women from a marginalized urban or rural area work together to save, discuss and seek solutions to local problems that affect them, and receive small loans based on a solidarity guarantee.
