BCDF attends Caja Depac´s General Assembly

BCDF is very proud to collaborate with Caja Depac Poblana, a credit and savings cooperative offering integral financial services to poor people in the state of Puebla. I had the privilege to attend Caja Depac´s General Assembly which allows members to participate directly and actively in making the important decisions about the services that the savings cooperative offers. I felt inspired by how passionate Caja Depac´s members are about the savings cooperative since they dedicate time and effort to serve on committees, analyze pertinent information and make informed decisions. They are not merely loan borrowers. They are dedicated cooperative members: an institution that represents their interests and strives to ensure their success.

Jesus Ortiz, Caja Depac´s general director, informed in his annual report that 2010 was one of the most difficult for the cooperative due to the economic crisis as well as the crisis of confidence in savings cooperatives due to a few major frauds that occurred that year. In spite of these challenges, Caja Depac presented its case to be certified by the National Commission on Bank and Values, the highest governmental institution that regulates the financial sector. Once Caja Depac becomes approved by this Commission, the members´ savings will be protected by the government. Caja Depac will become the only savings cooperative in the state of Puebla to be certified by this commission.

BCDF is very proud to collaborate with Caja Depac for the following reasons:

• Caja Depac empowers its members to be active users of financial services, providing complete and accurate financial information so that they can make informed decisions
• Caja Depac promotes citizen participation by engaging members in democratc governance processes, which is very unique and necessary in a country where civic participation is usually limited to participating in a local church or donating once year to the needy
• Caja Depac offers integral financial services to poor people that are aimed at empowering them so that they do not become passive consumers of debt

Our business training strategy in Azumiatla would not be possible without the commitment of Caja Depac´s staff, in the corporate headquarters as well as the Azumiatla branch.