About FINCA
Worldwide FINCA’s 21 affiliates have about 3,300 staff, of which about 2,600 are field staff (credit officers and supervisors), and among these many are the better-educated children of FINCA clients. Each credit officer (CO) attends the weekly meeting of each of her 10-15 village banks to coach its leadership committee and monitor the bank’s activities. In addition to motivation and adult education, the CO supervises client attendance, monitors bookkeeping accuracy, checks the accuracy of the current week’s loan and savings collections, and checks when the deposit receipt of the previous meeting. In turn, each village bank is managed by its elected officers—a president (who leads the bank’s democratic decision-making process), secretary (who takes attendance and keeps minutes) and a treasurer (responsible for accurately handling all cash transactions). Finally, each village banker has her own passbook, and her recorded balances of loan payments and savings deposits must always be the same as those recorded in the treasurer’s record for each client.
Read more about this topic: Village Banking