MICROFINANCE INNOVATIONS IN COOPERATIVES


The Microfinance Innovations in Cooperatives or MICOOP Project was launched as a special project that seeks to extend the reach of co-op microfinance services to the poorest of the poor who desire to engage in micro, small and medium enterprises but have no access to formal lending institutions and/or are dependent on informal lenders who charge usurious loan rates. The project is being implemented based on a scheme whereby NATCCO enters into partnership with a viable and qualified co-op to help the co-op put up new branches or satellite offices in areas of high poverty incidence. The co-op has the option to choose between the build-operate-adapt-transfer (BOAT) or the 50/50 partnership scheme.

As of June 2008, the MICOOP has established 59 branches strategically located all over the country and has garnered a total outreach of 79,550. It is expected that another 9 branches will be opened in before the year ends and for the total outreach of the program to be 83,000 respectively.  

The NATCCO MICCOP Project has as its reliable partners the Postal Bank, Land Bank of the Philippines, OIKOCREDIT and Plan International. The program has also received additional grants from CORDAID and CODE NGO.