FAMA – Honduras
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FAMA, Asociación Familia and Medio Ambiente, is an NGO created in 1993 with the aim of offering financial products to low-income groups, especially micro-entrepreneurs in rural areas acting in the artisanal production, trade and services, and in agro-pastoral activities.
Its creation derives from the formalisation of two credit programs supported by the NGO Freedom from Hunger: “Credit with Education” and “Sustainable Agriculture”. In 2005, FAMA became an OPDF to be regulated and supervised by the National Banking and Insurance Commission.
FAMA’s vision is to be a consolidated financial organisation, a leader in the quality of its services and its commitment to the development of men and women in micro and small enterprises. In order to achieve its vision, the MFI provides quality financial products and services in a timely manner so that men and women have equal opportunities to develop their micro or small business, agricultural, industrial or service.
The institution finances more than 25,500 clients, 52% of whom are female. 63% of its clients live in rural areas. Different products are offered to customers with accessible conditions and reimbursements adapted to their activity. In addition to products for business development, FAMA offers innovative products and products targeting more vulnerable populations:
- Emprendedores: product targeting young people wishing for a new activity and already having experience in the wished field
- Madres y padres solteros: dedicated to single mothers and fathers
- Electrocasa: for the acquisition of solar panels or household appliances powered by clean energy
- Legalización de tierra: a product for women to cover the registration and formalisation of property deeds, with the aim of increasing the debt capacity of women entrepreneurs.
FAMA also offers savings services (voluntary, term and mandatory deposits), micro-insurance (accident and death) and payment/money transfer.
